GCP Infrastructure Investments Regulatory News (GCP)

19 May 2014



GCP Infrastructure Investments Limited

("GCP" or "the Company")

Investment commitment totalling £10 million

c. 21 year loan notes yielding c.10.1%

GCP, the only listed fund focused on investments in UK infrastructure debt, is pleased to announce the completion of a transaction committing to subscribe for loan notes with a term of c.21 years and an aggregate value of £10 million (the "Notes"). The yield on the Notes when issued will be c. 10.1% per annum. Notes with a principal value of at least £5 million will be issued immediately with the balance expected to be issued to the Company over the next six months.

The Notes will be issued by GCP Rooftop Solar 5 Limited, a single purpose company, and 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 portfolios of domestic solar panel installations in England installed by A Shade Greener Limited. Such security will be on a subordinated basis in respect of one such portfolio, and on a senior basis in respect of the remainder.

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.

The acquisition of the Notes has been financed from available cash reserves. Following this investment £16m (20%) of the C Share capital raised in March 2014 will have been invested.

Notes to Editors

The Company

The Company is a closed-ended London Stock Exchange-listed investment company that seeks to generate returns from senior and subordinated infrastructure debt and related and/or similar assets. The Company is advised by Gravis Capital Partners LLP.

A Shade Greener Limited

A Shade Greener Limited ("ASG") is a privately-owned group based in Tankersley, South Yorkshire. ASG developed the free solar panel business model in England, whereby ASG installs solar panels on residential property at no charge to the relevant household; the household is then able to use as much of the energy output of the panels as they are able, while ASG is paid over a 20or 25 year term under the FIT scheme. ASG is the leading supplier and installer of free solar panels in the UK. See http://www.ashadegreener.co.uk/ .

The Feed-In Tariff Scheme

The Feed-In Tariff scheme was introduced by the UK Government with effect from April 2010 to encourage the use of energy in the UK from renewable sources (including solar electricity panels). The scheme guarantees to electricity producers a fixed price for electricity produced from renewable sources for a term of 20 or 25 years, inflating at RPI.