The Scottish American Investment Company Trust P.L.C. announced that it has agreed principal terms (subject to legal agreements being finalised) to issue ?15 million of long-term private placement debt to augment its existing long-term borrowings. The debt will be secured, unlisted and denominated in sterling. The purpose of this transaction is to obtain additional long-dated financing at what the company believes to be attractive pricing levels, with the intention of enhancing shareholder returns and income over the long term. The principal terms provide for the issue of a single ?15 million tranche of private placement notes. The Notes will have a fixed coupon of 2.23% with a funding date of June 25, 2021 and a repayment date of June 25, 2036. All coupons will be payable semi-annually. It is expected that legal agreements will be finalised shortly. Pension Insurance Corporation plc has agreed to purchase the Notes.