Literacy Capital PLC - Extension of the Fund's RCF
The information contained in this announcement is restricted and is not for publication, release or distribution in
Literacy Capital plc
Improvement of terms and two-year extension to Revolving Credit Facility
Literacy Capital plc ("Literacy", "BOOK" or the "Company"), a listed investment trust primarily focused on investing directly into private businesses based in the
The existing facility, which was due to expire in
As part of the extension, there has been a reduction in margin percentage that BOOK is charged. The covenant regarding the minimum number of assets that need to be held has also been reduced from "needing to exceed" ten to eight, providing more flexibility to Literacy. All other material terms relating to the RCF remain unchanged, including the 20% loan-to-value covenant.
As at today, net borrowings amount to
We look forward to continuing our partnership with OakNorth and are grateful for their ongoing support".
-ENDS-
For further information, please contact:
Literacy Capital plc / Book Asset Management LLP
+44 (0) 20 3960 0280
MHP Group
+44 (0) 7817 458 804
Deutsche Numis
+44 (0) 20 7260 1000
About Literacy Capital plc
Literacy Capital (BOOK.L) is a closed-end investment company that was co-founded by
It also has a unique charitable objective, to donate 0.5% of annual NAV to charities focused on improving
A copy of this announcement will be available on the Company's website at www.literacycapital.com.
The information contained in this announcement regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified by the Company. The information contained herein is unaudited.
This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
LEI: 2549006P3DFN5HLFGR54
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