The board of JPMorgan European Investment Trust plc announced that it has agreed to issue EUR 50 million fixed rate 20-year unsecured private placement notes at an annualised coupon of 2.69%. This transaction will obtain fixed rate long-dated Euro-denominated financing at a price that the company considers attractive and which is expected to enhance long term investment performance. Additionally, in issuing the notes the company anticipates the due repayment of EUR 60 million currently drawn down under its EUR 60 million 364 day credit facility which is due to expire on 27 August 2015.

The funding date for the Notes is expected to be 26 August 2015 and the Notes are due to be repaid on 24 August 2035. The interest payment dates will be 26 February and 26 August. The Notes will be unsecured which gives the company increased flexibility to manage its borrowings in the future.

There has been no change in the Investment Manager's permitted gearing range, as previously set by the Board, of 10% cash to 20% geared.