Seneca Global Income & Growth Trust, managed by Alan Borrows and Simon Callow (pictured), has announced that it has put in place a two year short term rolling debt facility of £7m. The new facility replaces the two year short term rolling debt facility which expired on 31 October 2015. The margin on the new facility is 0.7% over LIBOR. This is less than the 1.15% margin over LIBOR on the trust’s previous facility. The company says that the other commercial terms on the new facility are similar to those of the previous facility. The Company was 12% geared at the end of October 2015.
Seneca Global Income & Growth cuts borrowing costs : SIGT