GCP Asset Backed Income Fund Ltd Investment commitment of £17.5 million (1875Z)
March 10 2017 - 8:55AM
UK Regulatory
TIDMGABI
RNS Number : 1875Z
GCP Asset Backed Income Fund Ltd
10 March 2017
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO
AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OF
AMERICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.
GCP Asset Backed Income Fund Limited ("GCP Asset Backed Income"
or the "Company")
New investments
10 March 2017
Investment commitment of GBP17.5 million
GCP Asset Backed Income, which invests in asset backed loans, is
pleased to announce that it has committed to two loans of up to
GBP17.5 million aggregate which will be used to finance UK
residential property.
The first loan, of up to GBP15 million and with a term of
c.three years, will be secured on a subordinated ranking basis
against a portfolio of eight co-living properties. The loan note
will be issued in tranches, with an initial amount to be advanced
of GBP5.3 million.
The second loan, of GBP2.5 million and with a term of c.five
years, will be drawn immediately and will be secured against a
portfolio of first ranking charges against UK residential
property.
The loans have been funded from the net proceeds of its recent
issue of C Shares.
For further information, please contact:
Gravis Capital Partners LLP +44 (0)20 7518 1490
David Conlon david.conlon@gcpuk.com
Philip Kent philip.kent@gcpuk.com
Dion Di Miceli dion.dimiceli@gcpuk.com
Cenkos Securities plc +44 (0)20 7397 8900
Tom Scrivens tscrivens@cenkos.com
Oliver Packard opackard@cenkos.com
Sapna Shah sshah@cenkos.com
Buchanan +44 (0)20 7466 5000
Charles Ryland charlesr@buchanan.uk.com
Vicky Watkins victoriaw@buchanan.uk.com
Notes to Editors
The Company
GCP Asset Backed Income is a closed ended investment company
traded on the London Stock Exchange's main market for listed
securities. Its investment objective is to generate attractive
risk-adjusted returns primarily through regular, growing
distributions and modest capital appreciation over the long
term.
The Company seeks to meet its investment objective through a
diversified portfolio of investments secured against contracted,
predictable medium to long term cash flows and/or physical assets
which are predominantly UK based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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