HENDERSON EUROPEAN FOCUS TRUST PLC

Capital/Financing Update • Jan 27, 2022

National Storage Mechanism | Additional information

RNS Number : 7739Z

Henderson European Focus Trust PLC

27 January 2022

HENDERSON INVESTMENT FUNDS LIMITED

HENDERSON EUROPEAN FOCUS TRUST PLC

LEGAL ENTITY IDENTIFIER: 213800GS89AL1DK3IN50

27 January 2022

HENDERSON EUROPEAN FOCUS TRUST PLC

(the "Company")

Fixed-Rate Borrowing

The Company has agreed to issue €35m fixed-rate privately placed notes (the "Notes"), which are divided into two tranches as follows:

·    €25m maturing on 31 January 2047 with a fixed coupon of 1.53%; and

·    €10m maturing on 31 January 2052 with a fixed coupon of 1.66%.

The funding date is expected to be 31 January 2022, subject to customary closing conditions, with interest payable semi-annually. The Notes will be unsecured and will provide fixed-rate, long-dated Euro-denominated financing at pricing that the Company considers attractive and should enhance long-term investment performance.

The proceeds of the Notes will be invested as and when attractive opportunities arise in accordance with the Company's investment policy. The Company will also continue to have an overdraft facility. It will be reduced to the lesser of £30m and 10% of net assets and will provide gearing flexibility alongside the Notes. There has been no change in the Company's policy on gearing.

Vicky Hastings, Chair of the Board, said: "Using structural debt with the aim of enhancing returns for shareholders is a key advantage of the investment trust structure. At a weighted average interest rate of 1.57%, this financing provides attractive long-term debt capital to be deployed for the benefit of shareholders for many years to come." 

Centrus Financial Advisors Limited acted as arranger of the issue of the Notes.

Enquiries:

Vicky Hastings Chair of the Board Henderson European Focus Trust plc Telephone: 020 7818 2220	James de Sausmarez Director and Head of Investment Trusts Janus Henderson Investors Telephone: 020 7818 3349
Robert St John Centrus Financial Advisors Limited Telephone: 0203 846 5676 Robert.Stjohn@centrusadvisors.com	Harriet Hall PR Manager Investment Trusts Janus Henderson Investors Telephone: 020 7181 2919

Disclaimer

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act. This notice is for information only, does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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