By LSE RNS
STANDARD LIFE UK SMALLER COMPANIES TRUST PLC
15 DECEMBER 2017
REVOLVING CREDIT FACILITY
Standard Life UK Smaller Companies Trust plc ("the Trust") is pleased to announce it has drawn down £15m of the £20m Revolving Credit Facility it agreed with The Royal Bank of Scotland plc in November 2017. The facility is priced off 3 month LIBOR and means that, when combined with the five year, fixed term loan drawn in November 2017, the weighted average rate of the drawn borrowings will be around 1.94%.
The Portfolio Manager, Harry Nimmo, explained "The majority of our holdings are trading strongly. The year end has seen market fatigue partly as a result of the scale of new share issuance. This has given rise to significant value becoming apparent and provides investment opportunities for long-term investors, such as the Trust, to access high-quality companies at attractive valuations."
All enquiries:
Evan Bruce-Gardyne
Head of Investment Companies, Standard Life Investments Tel. 0345 600 2268
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