Witan Investment Trust plc has agreed to issue a £30 million fixed rate 37 year secured private placement note at a coupon of 2.74%. The purpose of this transaction is to obtain fixed rate long dated Sterling denominated financing at a pricing level that the company considers attractive, and is expected to enhance long term investment performance. The funding date is expected to be November 1, 2017 with interest payable semi-annually. The principal repayment date will be November 1, 2054. Total structural borrowings including the Note will increase from £142 million to £172 million following completion of this transaction. In the near-term, it is expected that the proceeds will be mainly used to repay short-term borrowings.