The Law Debenture Corporation p.l.c. has agreed to issue ?20 million 2.54% Series A Senior Secured Notes ("Series A Notes") and ?30 million 2.53% Series B Senior Secured Notes ("Series B Notes"). Given the continued growth in the Corporation's net asset value, the Corporation's Board believes that, in the current interest rate environment, it is desirable to obtain fixed-rate, long-dated, sterling-denominated financing at an attractive pricing level. Over the longer-term, the Corporation's record of outperformance versus its benchmark has been achieved, in part, through the opportunistic but measured use of gearing. The proceeds from the issue of the Notes will be used to repay short-term borrowings, for further investment and general corporate purposes. The funding date 2 November 2021, with interest payable semi-annually. The principal repayment dates for the Series A Notes and the Series B Notes will be 2 November 2041 and 2 November 2050, respectively. Total structural borrowing (which following completion of this transaction will comprise the Notes in addition to (1) the ?40 million 6.125% guaranteed secured bonds due 2034 issued by Law Debenture Finance p.l.c. in 1999 and guaranteed by the Corporation and (2) the ?75 million 3.77% Senior Secured Notes due 25 September 2045 issued by the Corporation) will increase from ?115 million to ?165 million.