Invesco offers shareholders slice of placing

Invesco Perpetual is offering shareholders in the Invesco Leveraged High Yield Trust a share in an £11m placing. The placing of shares has already been fully subscribed by institutional clients, although existing investors can still participate. The placing is designed to help the trust avoid any danger of breaching its banking covenants and involves the issue of 47.7 million shares at 24p each. The highly geared portfolio, managed by Paul Read and Paul Causer, invests in European high yield corporate bonds, with the aim of providing a high total return, primarily in the form of income...