LONDON (Alliance News) - GCP Infrastructure Investments Limited Friday reported it has purchased loan notes at an aggregate value of around GBP9.9 million, to finance the construction of hydro-electric plants.
The notes, which have a term of around 18 years, will be issued by GCP Hydro 1 Ltd and the proceeds will be used to secure two loans to finance the construction of two hydro-electric schemes in Scotland.
The company said all payments in relation to the notes are expected to be serviced from income arising under the UK government's Feed-In Tariff Scheme. GCP said the acquisition of the loan notes is being financed from its cash reserves.
GCP's shares were trading flat at 118.50 pence Friday afternoon.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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GCP Infrastructure Investments (GCP)