The Board of Murray International Trust PLC announced that it has agreed terms (through the acceptance of a conditional offer that is subject to diligence and agreement of legal documentation) to extend part of the Company's long-term borrowings through the issuance of a £50 million 10 year Senior Unsecured Loan Note (the "Loan Note") at an annualised interest rate of 2.24%. The Loan Note will be unsecured, unlisted and denominated in sterling. The Loan Note shall rank pari passu with the Company's other unsecured and unsubordinated financial indebtedness. The Company intends to use the proceeds of the Loan Note to repay, and cancel in full, the Company's £50 million Revolving Credit Facility ("RCF") with The Royal Bank of Scotland International Limited, London Branch, which is fully drawn and due to expire on 13 May 2021. An additional £150 million will also be available for drawdown by the Company for a five-year period. The Board's current intention would be to only draw this down to repay any of the Company's existing debt. The minimum drawdown would be in tranches of £10m and the exact terms of such a borrowing would be agreed at the time of drawdown. The Company will pay no fees on this facility, other than minimal legal fees. Once the initial drawdown is completed (expected to be 13 May 2021) and the RCF has been repaid, the Company's borrowings are expected to total approx. £200m, which represents a net gearing level of 13.0% based on the Company's Net Asset Value as at 9 April 2021.