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The board of the BlackRock Latin American Investment Trust is seeking shareholder approval to issue up to $75m (pound 46m) of convertible bonds to gear the fund.
Jonathan Ruck-Keene, the head of investment companies at BlackRock, says despite a considerable uncertainty, the board takes a long-term view on Latin American markets and aims to introduce medium-term gearing.
The trust currently has a short-term overdraft facility of less than one year. However, Ruck-Keene says longer-term gearing is expensive, if obtainable at all. The company therefore hopes to achieve...