LONDON (Alliance News) - GCP Infrastructure Investments Ltd, the UK infrastructure debt investor, Wednesday said it has subscribed for GBP59.7 million in loan notes with a 21-year term.
The notes were issued by GCP Rooftop Solar 6 Limited, a single purpose company.
GCP said the proceeds from the notes were used to make a loan secured on a senior basis against the cash flows from domestic solar panel installations in England by A Shade Greener Ltd.
"All payments of both principal and interest in relation to the notes are expected to be serviced from income arising under the UK government's Feed-In Tariff Scheme," GCP said.
GCP said it funded the purchase with cash reserves and its revolving credit facility.
GCP shares were down 0.7% at 118.37 pence on Wednesday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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GCP Infrastructure Investments (GCP)