Henderson Intl. Income Trust PLC Edison issues review on Henderson Intl Income T'
May 21 2019 - 4:10AM
RNS Non-Regulatory
TIDMHINT
Henderson Intl. Income Trust PLC
21 May 2019
London, UK, 21 May 2019
Edison issues review on Henderson International Income Trust
(HINT)
Henderson International Income Trust (HINT) has been proposed as
the default rollover vehicle in the forthcoming planned liquidation
of the Establishment Investment Trust, further cementing its
position as a trust with a commitment to achieving the benefits of
scale (its assets have grown sevenfold since launch in 2011). It
has also recently locked in EUR30m of long-term borrowing with a
low interest rate of 2.43%, which may allow the manager, Ben
Lofthouse, to be more adventurous with gearing in his search for
income and growth from sustainably financed non-UK companies
trading at unwarranted discounts. HINT's NAV has recovered well
from the Q418 market sell-off, and the shares currently yield
3.4%.
At 17 May 2019, HINT's shares traded at a 1.1% premium to
cum-income net asset value. This compares with an average premium
of 0.7% since launch in April 2011, over which period the trust's
assets have grown from c GBP40m to c GBP280m through a combination
of performance, share issuance to manage the premium, and corporate
actions such as the issue of subscription and C shares, and the
rollover of Henderson Global Trust in 2016. HINT has a prospective
dividend yield of 3.5%.
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For more information please contact Edison:
Sarah Godfrey, +44 (0)20 3681 2519
Mel Jenner, +44 (0)20 3077 5720
Investmenttrusts@edisongroup.com
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END
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