10th Jul 2006 07:01
Aberdeen Asset Management PLC10 July 2006 Aberdeen Asset Management PLC Issue of Subordinated Notes Private Placement Aberdeen Asset Management PLC ("Aberdeen") announces that it has issued USD125million in subordinated loan notes through a private placement in the US. Theproceeds will be used to repay bank debt. The notes mature in 2016 with Aberdeenhaving a call option in 2011. The notes carry a fixed coupon of 7.2% pa for thefirst 5 years and, if not called in 2011, will be subject to a variable interestrate thereafter. The notes qualify as Tier 2 capital for regulatory purposes. The issue will addstrength and flexibility to Aberdeen's balance sheet, widen its investor base inthe US and provide Aberdeen with a currency hedge for the investment in its USsubsidiary, which is considerably enlarged following the addition of the fixedincome division in December 2005. For further information: Aberdeen Asset Management 01224 631 999Bill Rattray Merrill Lynch International 020 7628 1000Julien Roman Merrill Lynch International 00 1 212 449 1719Mark Wang Maitland 020 7379 5151Neil BennettWendy Timmons This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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