Here, this is the best I could do. Without the extra margin (only adjusted Y coordinates) I'd always get some garbage under a few characters eg "h".
It seems to be working fine (see attached screenshots) - thanks.
I've heard that one of the quest mods uses some non-standard characters (Spanish letter Ñ ?) in character or location name - but I forgot which one. Maybe someone remembers, so I can check if it works fine with the new font ?