1 Jun 2015 13:30
01 June 2015
GCP Infrastructure Investments Limited
("the Company")
Investment commitment of £10.0 million
The Board of Directors of the Company, the UK's only listed infrastructure fund focused primarily on investments in UK infrastructure debt, is pleased to announce the completion on 01 June 2015 of a transaction committing to subscribe for a loan note with an expected term of c.1.5 years and an initial value of up to £10.0 million when fully drawn (the "Loan Note"). The Company has advanced c. £1.2 million at completion and the majority of the balance is expected to be advanced over the next twelve months.
The Loan Note will be issued by GCP Social Housing 1 Limited and the proceeds used to provide a revolving loan facility secured on a senior basis to finance the development and construction of a number of social housing units for occupation by adults with learning or physical difficulties. The social housing units will be subject to agreements for lease with one or more housing associations in England regulated by the Homes and Communities Agency. Upon development or construction completion, the Loan Note will be refinanced using existing loan notes issued to the Company under the transaction announced on 30 April 2015. All payments of both principal and interest in relation to the Loan Note are expected to be serviced from the cashflows arising under this refinancing.
The acquisition of the Loan Note has been financed fully from available cash reserves within the Company.
Contact details: | |
Gravis Capital Partners LLP | |
Stephen Ellis | +44 (0)20 7518 1495 |
Rollo Wright | +44 (0)20 7518 1493 |
Stifel Nicolaus Europe Limited | |
Neil Winward | +44 (0)20 7710 7600 |
Mark Bloomfield | |
Tunga Chigovanyika | |
Cenkos Securities | |
Dion Di Miceli | +44 (0)20 7397 1921 |
Tom Scrivens | +44 (0)20 7397 1915 |
Buchanan | |
Charles Ryland | +44 (0)20 7466 5000 |
Sophie McNulty |
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.
The Homes and Communities Agency
The Homes and Communities Agency is an executive non-departmental public body, sponsored by the Department for Communities and Local Government. It is responsible for the regulation of social housing providers in England.
GCP Infrastructure Investments (GCP)