GCP Infrastructure Investments Regulatory News (GCP)

GCP Infrastructure Investments Limited

(the 'Company')

Investment by GCP Infrastructure Fund Limited (the "Master Fund") of a £10.3 million Loan to an Education PFI Project

1 December 2011

The Company is a closed-ended investment company that seeks to generate returns from subordinated PFI debt and related and/or similar assets (the "Target Assets"). The Company achieves this by investing substantially all of its capital in the Master Fund, an open-ended investment company that holds the Target Assets. The Company is the majority shareholder of the Master Fund.

The Company is pleased to announce that, on 30 November 2011, the Master Fund advanced a loan of £10.3 million (the "Loan") secured on a subordinated basis against an educational PFI project comprising 3 schools (the "Project"). The Project is located in England and has been operational since 2007. The Loan was advanced to Education PFI Investments Limited ("EPIL") and was financed partly by a credit facility with Royal Bank of Scotland International and partly by available cash reserves. The Loan, which is identified as one of the Expected Imminent Investments in the Company's Prospectus dated 22 November 2011, has a term of c. 23 years and a return of 9.20% p.a. annual equivalent. As detailed in the Company's Prospectus, the Company is targeting a fundraising of £60 million through a Placing and Offer for Subscription of C Shares to take advantage of the investment opportunities that are available to the Master Fund and to repay debt drawn down under the credit facility.

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