M&G Credit Income trust eyes share issues

Scaling up to lower costs

The board of M&G’s £142.3m Credit Income investment trust plans to issue more shares to boost the size of the vehicle, it said this morning (29 September).

In the fixed income trust's half year report, chair David Simpson said the board intended to boost its assets to lower costs and improve portfolio diversification. The trust raised £14.2m in early June through a share placement, timed to take advantage of "favourable opportunities arising from the market dislocation due to the Covid-19 pandemic and the reopening of the private debt markets", Simpson said. "The company will continue to issue new shares at a premium to NAV when appropriate conditions arise," he added. Merian Chrysalis opts for equity placing in £50m fundraise Shar...