ATST Alliance Trust PLC

Alliance Trust PLC - Fixed Rate Note Borrowing

Alliance Trust PLC - Fixed Rate Note Borrowing

1 December 2023

ALLIANCE TRUST PLC

Fixed rate note borrowing

Alliance Trust PLC (the “Company”) has issued €70m fixed rate privately placed notes (the “Notes”) in two tranches of €20m and €50m respectively, with maturities of 7 and 10 years and coupons of 4.02% and 4.18%. The closing and settlement date is today with interest payable semi-annually.

The purpose of this transaction is to obtain fixed rate, medium-dated Euro denominated financing at a pricing level that the Company considers attractive. The transaction is expected to provide the Company with a long-term benefit through a full market cycle.

The proceeds of the financing will be used to repay some of the Company’s existing floating rate bank borrowings, such that the Company’s current drawn borrowings will remain broadly unchanged. As a result of these changes, our weighted average borrowing costs will reduce from 4.7% pa to 3.8% pa.

For more information, please contact:

Mark Atkinson,

Senior Director – Client Management, Wealth & Retail

Willis Towers Watson

Tel. +44 (0)7918 724303



EN
01/12/2023

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