TIDMGCP

RNS Number : 0405M

GCP Infrastructure Investments Ltd

10 October 2016

GCP Infrastructure Investments Limited

("GCP Infrastructure" or "the Company")

10 October 2016

Investment commitment of up to GBP60.0 million in social infrastructure

GCP Infrastructure, the only listed infrastructure fund focused primarily on investments in UK infrastructure debt, is pleased to announce that it has committed to subscribe for two loan notes of up to GBP60 million in aggregate (the "Loan Notes"), the proceeds of which will be used to finance supported living units for occupation by adults with learning or physical difficulties.

The first Loan Note, for up to GBP50 million and with an expected term of c.35 years, will be used to provide funding for the acquisition of operational supported living units. The Loan Note, of which GBP37.4 million has to date been subscribed by the Company, is secured on a senior basis against the underlying physical properties, all of which are subject to one or more 50 year fully repairing and insuring leases with one or more housing associations in England regulated by the Homes and Communities Agency.

The second Loan Note, for up to GBP10 million and with a term of up to 2 years, will be used to provide funding for the development of new supported living units. It will be secured on a senior basis against the underlying physical properties, each of which will have the benefit of an agreement to lease with one or more housing associations in England regulated by the Homes and Communities Agency.

The Loan Notes will be issued by GCP Programme Funding 1 Limited, an intermediary company set up for these purposes.

The acquisition of the Loan Notes has been financed from a combination of gross proceeds of the Company's recent placing and its revolving credit facility.

 
Contact details: 
Gravis Capital Partners 
 LLP                       +44 (0)20 7518 1490 
Stephen Ellis 
Rollo Wright 
 
  Stifel Nicolaus Europe 
  Limited 
Neil Winward               +44 (0)20 7710 7600 
Mark Bloomfield 
Tunga Chigovanyika 
 
  Buchanan 
Charles Ryland             +44 (0)20 7466 5000 
Victoria Watkins

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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