13th Sep 2018 16:22
LONDON (Alliance News) - Montanaro European Smaller Cos Trust PLC on Thursday said it borrowed EUR25 million from London branch of ING Bank NV through a loan and credit facility.
The company said it entered into EUR10 million loan facility agreement with ING Bank, which has a five-year term at a fixed rate of 1.3% per annum and is repayable on September 13, 2023.
In addition, the company took a five-year revolving credit facility with ING Bank for EUR15 million.
Montanaro European said it fully drawn down the facility to repay its EUR25 million loan with ING Bank, which matures on Thursday.
Shares in the trust were trading 0.3% higher on Thursday at 947.40 pence each.
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