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Asia Dragon Trust PLC on Wednesday announced an extension and £25 million increase to its financing arrangements with the Royal Bank of Scotland. The Asia-focused investment trust looks to invest in companies with good cash flows and healthy balance sheets. An existing £50 million multi-currency revolving credit facility has increased to £75 million, while the maturity date has been extended to March 29, 2025 from July 29, 2024. ‘The £25 million increase has been used to repay the company’s £25 million fixed rate loan with the lender which matured on 29 July 2024. The company now has a single unsecured £75m RCF...under which the company retains flexibility to repay and cancel the facility at any time during its tenor, on 5 business days’ notice,’ Asia Dragon said. The company’s total borrowings therefore remain unchanged at £72.8 million. Asia Dragon shares were up 1.2% to 412.00 pence each in London on Wednesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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