Last checked at 
28 Jan 2014 07:00
28 January 2014
GCP Infrastructure Investments Limited
("GCP" or "the Company")
Investments totalling £4.99 million
c. 20 year loan notes yielding c.9.3%
GCP, the UK's only listed infrastructure fund focused primarily on investments in UK infrastructure debt, is pleased to announce that on 27 January 2014 the Master Fund completed a transaction subscribing for loan notes with a term of c.20 years and an aggregate value of £4.99 million (the "Notes"). The yield on the Notes will be c. 9.3% per annum.
The Notes will be issued to the Master Fund by GCP Rooftop Solar 4 Limited, a single purpose company, and the proceeds from the issue of the Notes will be used to make a loan secured on a senior-ranking basis against a portfolio of domestic solar panel installations in England installed by A Shade Greener Limited.
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.
Contact details: |
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Gravis Capital Partners LLP |
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Stephen Ellis | +44 (0)20 7518 1495 |
Rollo Wright | +44 (0)20 7518 1493 |
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Oriel Securities |
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Neil Winward | +44 (0)20 7710 7600 |
Tunga Chigovanyika |
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Cenkos Securities |
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Dion Di Miceli | +44 (0)20 7397 1921 |
Tom Scrivens | +44 (0)20 7397 1915 |
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Buchanan |
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Charles Ryland | +44 (0)20 7466 5000 |
Sophie McNulty |
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Notes to Editors
The Company
The Company is a closed-ended investment company that seeks to generate returns from senior and subordinated infrastructure debt and related and/or similar assets (the "Target Assets"). The Company achieves this by investing substantially all of its capital in GCP Infrastructure Fund Limited (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 and the Master Fund are advised by Gravis Capital Partners LLP (the "Investment Adviser").
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 20 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 years, inflating at RPI.