Investment commitment of up to c.£60.0 million

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 £60.0 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 £60 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 £50 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 £37.4 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 £10 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	[phone]
Stephen Ellis
Rollo Wright
Stifel Nicolaus Europe Limited
Neil Winward	[phone]
Mark Bloomfield
Tunga Chigovanyika
Buchanan
Charles Ryland	[phone]
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.

 

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