The Monks Investment Trust PLC announced that it has issued £100 million of long-term, fixed rate, senior, unsecured privately placed notes. This transaction provides the company with further long-term financing at very attractive rates. The Board remains committed to the strategic use of borrowings for the company in order to enhance returns to shareholders over the long term and has set a guideline gearing level of 10%. This new £100 million financing will be available to bring Monks' level of gearing into line with this target level. The new privately placed notes are being issued in two tranches: £60 million with a fixed coupon of 1.86% to be repaid in 2054 and £40 million with a fixed coupon of 1.77% to be repaid in 2045. Coupons will be payable semi-annually. The funding date for both tranches is the 7 August 2020.