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LONDON (Alliance News) - GCP Infrastructure Investments Ltd Monday it has subscribed for further loan notes with a term of around 21 years and an aggregate value of GBP10 million, financed from available cash reserves.
The UK infrastructure debt-focused investment firm said the notes will be issued by GCP Rooftop Solar 5 Ltd, a single purpose company. The proceeds from the issue of the notes will be used to make a loan secured against the cash flows arising from a number of UK solar projects.
GCP said the yield on the notes when issued will be around 10% a year. Notes with a principal value of at least GBP5 million will be issued immediately with the balance expected to be issued to the company over the next six months, it added.
GCP shares were quoted up 0.1% at 115.83 pence Monday morning
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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