LONDON (Alliance News) - GCP Infrastructure Investments Ltd Monday said it had subscribed for GBP16.5 million in loan notes with a term of about 24 years.
The notes will be issued by GCP Education 1 Ltd, with the proceeds being used to buy the cashflows arising from a subordinated debt interest in a school public-private partnership.
"All payments of both principal and interest in relation to the notes are expected to be serviced from subordinated debt interest and principal payments payable under the project," the company said in a statement.
The deal means that GCP Infrastructure has now deployed about 64% of the GBP80 million it raised in a placing and open offer in March.
Its shares were up 0.3% at 114.30 pence Monday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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GCP Infrastructure Investments (GCP)