25 Mar 2015 14:30
GCP Infrastructure Investments Ltd
25 March 2015
GCP Infrastructure Investments Limited
("GCP" or "the Company")
Investment totalling £59.735 million
c. 21 year loan notes
GCP, the only listed fund focused on investments in UK infrastructure debt, is pleased to announce the completion on 25 March 2015 of a transaction whereby GCP has subscribed for loan notes with a term of c.21 years and an aggregate value of £59.735 million (the "Notes").
The Notes were issued by GCP Rooftop Solar 6 Limited, a single purpose company, and the proceeds from the issue of the Notes were used to make a loan secured on a senior basis against the cash flows arising from a number of portfolios 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 and a drawing under GCP's revolving credit facility.
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 plc | |
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.
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 or 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.
This information is provided by RNS
The company news service from the London Stock Exchange
GCP Infrastructure Investments (GCP)