Investment commitment of £7 million

RNS Number : 3905A

GCP Asset Backed Income Fund Ltd

24 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NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES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 investment

24 March 2017

Investment commitment of £7 million

GCP Asset Backed Income, which invests in asset backed loans, is pleased to announce that it has committed to a loan of up to £7 million which will be used to finance a portfolio of buy-to-let mortgages.

The loan, with a term of c.three years, will be secured on a subordinated ranking basis against a portfolio of loans, secured against UK residential property. The loan note will be issued in tranches, with an initial amount to be advanced of c.£3.8 million.

The loan has been funded from the net proceeds of its recent issue of C shares.

For further information, please contact:

Gravis Capital Partners LLP		[phone]
David Conlon	[e-mail]
Philip Kent	[e-mail]
Dion Di Miceli	[e-mail]
Cenkos Securities plc		[phone]
Tom Scrivens	[e-mail]
Oliver Packard	[e-mail]
Sapna Shah	[e-mail]
Buchanan		[phone]
Charles Ryland	[e-mail]
Vicky Watkins	[e-mail]

Notes to Editors

The Company

The Company is a closed ended investment company traded on the Main Market of the London Stock Exchange. 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 by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.

 

END

 

 

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