Investment commitment of c.£140 million

RNS Number : 2954O
GCP Infrastructure Investments Ltd
18 August 2017
 

  

GCP Infrastructure Investments Limited

("GCP Infrastructure" or the "Company")

LEI 213800W64MNATSIV5Z47

 

Headline: Investment commitment of c.£140 million

 

 

18 August 2017

On 20 April 2017 the Company, which is the only UK listed fund focused primarily on investments in UK infrastructure debt, announced it had entered into a conditional, binding commitment (the "Commitment") with an entity owned by Macquarie Group ("Macquarie") to subscribe for a series of loan notes, subject to regulatory approval of the acquisition of the UK Green Investment Bank plc by Macquarie (the "GIB Transaction").

The Board of GCP Infrastructure notes the announcement by Macquarie today confirming the completion of the GIB Transaction.

Accordingly, the Company is pleased to announce that, in accordance with the Commitment, it intends to subscribe for a series of loan notes with a value of c. £140 million (the "Loan Notes") over a c. two year period. Approximately £90 million will be advanced in the coming days, with expected terms of between c.13 and 25 years.

The Loan Notes will be used to finance the purchase of, and ongoing commitments related to, investments secured against 23 UK based projects across multiple sectors including waste to energy, onshore wind, hydro, landfill gas and building retrofit schemes (the "Projects").

Each of the Projects is in receipt of, or is expected to be in receipt of, revenues arising from either government-backed public-private partnership ("PPP") schemes or government-sponsored mechanisms for promoting energy efficiency or renewable electricity generation in the UK. 

The Loan Notes will be issued by GCP Bridge Holdings Limited, an intermediary company set up for these purposes.

The acquisition of the Loan Notes has been financed from the Company's available resources.

For further information, please contact:

Gravis Capital Management Ltd

Phil Kent

Stephen Ellis

Dion Di Miceli

 

 +44 (0)20 3405 8500

Stifel Nicolaus Europe Limited

Neil Winward

Mark Bloomfield

Tunga Chigovanyika

 

+44 (0)20 7710 7600

Buchanan

Charles Ryland

Victoria Haynes

+44 (0)20 7466 5000

 

Notes to Editors

The Company

The Company is a closed-ended London Stock Exchange-listed investment company that seeks to generate returns from senior and subordinated infrastructure debt and related and/or similar assets. The Company is advised by Gravis Capital Management Ltd.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBDGDIXUBBGRR
UK 100

Latest directors dealings