The Board of Troy Income & Growth Trust says the company has entered into a two year unsecured floating rate revolving credit facility, for GBP20 million, with ING Luxembourg S.A. The facility bears interest at 0.90 per cent over LIBOR and is for the acquisition of investments in accordance with the Company’s investment policy and for general corporate purposes.
As stated in the Company’s 2016 Annual Report, the Board and Manager intend to gear the portfolio on a tactical basis as and when compelling equity valuation levels are presented. The ING facility will not be put to immediate use but provides an efficient and cost effective means of providing gearing at appropriate times.
TIGT : Troy gets £20m bank loan facility