Murray International Trust secures new bank loan facility

4th Jun 2013 11:51

FTSE 250-listed Murray International Trust has reached an agreement with the Royal Bank of Scotland under which a new aggregate 120m pound loan has been made available to the company and the existing 10.7bn Japanese Yen loans with the bank have been confirmed.The independent investment trust said that the purpose of the loan would be to refinance the existing ¥8.2bn loan with Barclays Bank, to increase the overall facilities available to the company in light of the company's increase in size and to confirm the financing of the existing ¥10.7bn facilities with the bank.The loan is being made available by way of two £60m facilities repayable in four and five years' time which will incur interest at all-in rates of 2.21% and 2.58% respectively.The existing ¥8.4bn facility repayable on May 13th 2015 and the existing ¥2.3bn facility repayable on February 16th 2014 were fixed at all-in interest rates of 3.17% and 2.03%, respectively.Murray International's share price was up 0.59% to 1,198p at 11:47 on Tuesday.MF