26th May 2020 11:08
(Alliance News) - M&G Credit Income Investment Trust PLC on Tuesday said in intends to raise more funds as it has identified favourable opportunities for investment.
The investment company said it will issue a maximum of 26 million new shares at a price of 97.0 pence each, meaning it will raise up to GBP25.2 million. The price represents a 2% premium to the last published cum-income net asset value per share, after adjustment for the interim dividend.
The stock was trading 1.0% lower on Tuesday in London at 99.00p a share, giving it a market capitalisation of GBP128.7 million.
M&G Credit Income said its investment manager is seeing significant opportunities opening up in the private debt markets, offering investment-grade rated debt at levels not seen since the launch of the company.
Winterflood Securities Ltd is acting as bookrunner for the share placing.
By Evelina Grecenko; [email protected]
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M&g Credit Inc.