20th Nov 2020 20:26
North American Income Trust PLC - Investor predominantly focused on S&P 500 equities - Accepts conditional offer to issue a USD25 million 10-year Senior Unsecured Loan Note at annualised interest rate of 2.7% and a USD25 million 15-year Senior Unsecured Loan Note at annualised interest rate of 2.96%. The blended rate for the first ten years of the Loan Notes will be 2.83%. The Loan Notes will be unsecured and unlisted. Trust intends to use the proceeds of the Loan Notes to repay, and cancel in full, the USD75 million three year uncommitted multi-currency revolving loan facility with Scotiabank.
Current stock price: 231.00p
Year-to-date change: down 24%
By Arvind Bhunjun; [email protected]
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