City of London Investment Trust issues PPs
The City of London Investment Trust, the UK listed equity investor, has sold £30m of 25-year private placements.
JP Morgan arranged the fixed rate deal, which has an annual coupon of 2.67%. It will be funded on March 19, and the notes will rank pari passu with the borrower’s other secured debt.
The proceeds will be used to reduce borrowing from its loan facilities.In its ...