Overview
MedicX Fund has issued £50m worth of loan notes to Standard Life Investments. The loan notes mature on 30 September 2028. £25m has been drawn down now and the balance will be drawn down in September 2015. The interest rate on the notes is 3.838% per annum and this brings the weighted average cost of debt for the fund down to 4.42%. The fund’s gearing level will be 54%.
MXF : MedicX issues loan notes to Standard Life