StockMarketWire.com - The Mercantile Investment Trust plc announces that it has raised an additional £150 million of long-term debt through the issue of three fixed rate, senior unsecured privately placed notes.

The notes, which will be funded on 8th September 2021, are:

- £55 million maturing in 2041 with a fixed coupon of 1.98%;

- £50 million maturing in 2051 with a fixed coupon of 2.05%; and

- £45 million maturing in 2061 with a fixed coupon of 1.77%.

The net proceeds from the Notes will be used to repay the Company's short-term indebtedness of £80 million.

The balance of the proceeds will be available to be invested as and when attractive opportunities arise. The company's short-term debt facility will remain available providing further investment flexibility.


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