GCP Infrastructure Investments Ltd Investment commitment of c.£140 million (2954O)
August 18 2017 - 1:39AM
UK Regulatory
TIDMGCP
RNS Number : 2954O
GCP Infrastructure Investments Ltd
18 August 2017
GCP Infrastructure Investments Limited
("GCP Infrastructure" or the "Company")
LEI 213800W64MNATSIV5Z47
Headline: Investment commitment of c.GBP140 million
18 August 2017
On 20 April 2017 the Company, which is the only UK listed fund
focused primarily on investments in UK infrastructure debt,
announced it had entered into a conditional, binding commitment
(the "Commitment") with an entity owned by Macquarie Group
("Macquarie") to subscribe for a series of loan notes, subject to
regulatory approval of the acquisition of the UK Green Investment
Bank plc by Macquarie (the "GIB Transaction").
The Board of GCP Infrastructure notes the announcement by
Macquarie today confirming the completion of the GIB
Transaction.
Accordingly, the Company is pleased to announce that, in
accordance with the Commitment, it intends to subscribe for a
series of loan notes with a value of c. GBP140 million (the "Loan
Notes") over a c. two year period. Approximately GBP90 million will
be advanced in the coming days, with expected terms of between c.13
and 25 years.
The Loan Notes will be used to finance the purchase of, and
ongoing commitments related to, investments secured against 23 UK
based projects across multiple sectors including waste to energy,
onshore wind, hydro, landfill gas and building retrofit schemes
(the "Projects").
Each of the Projects is in receipt of, or is expected to be in
receipt of, revenues arising from either government-backed
public-private partnership ("PPP") schemes or government-sponsored
mechanisms for promoting energy efficiency or renewable electricity
generation in the UK.
The Loan Notes will be issued by GCP Bridge Holdings Limited, an
intermediary company set up for these purposes.
The acquisition of the Loan Notes has been financed from the
Company's available resources.
For further information, please contact:
Gravis Capital Management Ltd
Phil Kent
Stephen Ellis
Dion Di Miceli +44 (0)20 3405 8500
Stifel Nicolaus Europe Limited
Neil Winward
Mark Bloomfield
Tunga Chigovanyika +44 (0)20 7710 7600
Buchanan
Charles Ryland
Victoria Haynes +44 (0)20 7466 5000
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 Management Ltd.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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