Baillie Gifford Japan Trust PLC

Capital/Financing Update • Jul 24, 2024

National Storage Mechanism | Additional information

RNS Number : 7152X

Baillie Gifford Japan Trust PLC

24 July 2024

The Baillie Gifford Japan Trust PLC (BGFD)

Legal Entity Identifier: 54930037AGTKN765Y741

The Baillie Gifford Japan Trust PLC raises JPY12 billion of debt

The Baillie Gifford Japan Trust PLC ('the Company' or 'Japan Trust') announces that it has issued JPY12 billion of fixed rate, senior, unsecured privately placed notes ("the Notes") split into three tranches of JPY4 billion, maturing in 5, 10 and 14 years from the funding date of 20 November 2024. This transaction provides the Company with medium-term financing at a range of maturities and a competitive average interest rate of 2.05%. The proceeds of the Notes will be used to repay existing bank debt of JPY9.3 billion maturing in November 2024 and JPY2.6 billion maturing in March 2025.

The Board remains in favour of the strategic use of borrowings for the Company in order to enhance returns to shareholders over the long term. This new financing will maintain availability of gearing capacity for Japan Trust and fixes the cost of borrowing for an extended period, providing certainty.

The Notes have been issued in three tranches of JPY4 billion with the following fixed coupons:

-     1.56% to be repaid on 20 November 2029; 2.05% to be repaid on 20 November 2034; and 2.55% to be repaid on 20 November 2038.

-     Coupons will be payable semi-annually.

Centrus Financial Advisors Limited acted as sole placement agent for the transaction.

Baillie Gifford & Co Limited

Managers and Secretaries

24 July 2024

Regulated Information Classification: Additional regulated information required to be disclosed under applicable law.

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