Aberdeen Unveils Refinancing Package Auditor Flags Up Issues Associated with Funding of Splits Settlement

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ABERDEEN Asset Management announced a package of measures to refinance its hefty borrowings as its auditor highlighted issues surrounding the funding of a settlement of the split-capital trusts affair in which it had been embroiled.

As well as continuing its long-standing programme of selling non- core assets with the pounds-12.1m disposal of its Isle of Man life business, Aberdeen said it planned to raise up to pounds-150m from the issue of bonds and preference shares.

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Aberdeen Unveils Refinancing Package Auditor Flags Up Issues Associated with Funding of Splits Settlement

The decision to launch an offering of pounds-26.57m convertible bonds paying 4.5-per cent interest follows the agreement in December of a pounds-78m...

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