15th Oct 2019 14:55
(Alliance News) - AVI Japan Opportunity Trust PLC said on Tuesday it has increased its unsecured revolving credit facility with Scotiabank Europe PLC by a further GBP11 million.
The additional borrowing is taken out under the facility agreement entered into in April, and thus includes the same terms.
Should the additional facility be fully drawn down, the company's gearing is expected to be approximately 22% of net assets. However, the firm's current intention is to maintain aggregate borrowings in the medium term to 10% to 15% of net asset value.
Shares in AVI Japan were up 1.2% at 105.79 pence in London on Tuesday.
By Lucy Heming; [email protected]
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