Aberdeen High Income to repay £10m of bank debt

Aberdeen High Income has announced plans to repay £10m of bank debt following the breaching of its banking covenant on 13 March this year. In its proposals to restructure the split, to be voted on at an EGM on 10 June, the board has said it wants to avoid an immediate realisation of the portfolio, allowing it to sell assets opportunistically. It also wants shareholders to approve an end to distributions without the consent of its bankers, until such time that all amounts to the bank have been repaid. If approved, the proposals will prevent an immediate sale of the trust's assets, which,...