Investment of £10.7million

RNS Number : 3971E

Project Finance Investments Limited

03 November 2015

 



3 November 2015

Project Finance Investments Limited

(the "Company")

Investment of £10.7million

c.15 year loan note yielding c. 7.8%

The Board of Directors of the Company is pleased to announce the completion on 3 November 2015 of a transaction subscribing for loan notes with a term of c.15 years and a value of £10.7 million (the "Loan Note"). The yield on the Loan Note is c. 7.8% per annum, payable quarterly in arrears.

The Loan Note was issued by Project Finance Investments (UK) Limited, a wholly owned subsidiary of the Company.

The proceeds of the Loan Note were used to provide project finance (the "O&M Co Loan") to an operations and maintenance company active in the UK renewable energy market (the "O&M Co").

The O&M Co Loan is secured on a senior basis against the receivables of O&M Co under 27 underlying contracts governing the operation and maintenance of renewable energy installations (the "O&M Contracts").

All payments of both principal and interest in relation to the O&M Co Loan are expected to be serviced from contracted income arising from the O&M Contracts.

The acquisition of the Loan Note has been financed fully from the gross proceeds of the Company's recent IPO.

Contact details:
Gravis Capital Partners LLP
David Conlon	[phone]
Stephen Ellis	[phone]
Cenkos Securities plc
Dion Di Miceli	[phone]
Tom Scrivens	[phone]

Notes to Editors

The Company

The Company is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of project finance investments which have contracted, predictable medium to long term cash flows and/or physical assets and which are predominantly UK based.

 

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