LONDON (Alliance News) - GCP Infrastructure Investments Limited said Monday it has subscribed for further loan notes with an aggregate value of GBP12.5 million, financed fully from cash reserves.
The UK infrastructure debt-focused investment firm said the additional notes will be issued by GCP Biomass 1 Limited and are on the same terms as the GBP30 million notes issued by single purpose company Biomass 1 in March last year.
The notes have a yield of circa 10.5% and a term of circa 12 years. The proceeds from the issue of the additional notes will be used to make a loan secured on a senior basis against a further series of 500 kilo watt anaerobic digestion plants all of which are expected to be located in Northern Ireland, said the company.
GCP said that the acquisition of the additional notes has been fully financed through available cash reserves.
Shares in the company were trading 0.09% lower at 114.65c pence per share Monday morning.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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GCP Infrastructure Investments (GCP)