GCP Asset Backed Maintains Quarterly Payout; Considers Fundraising (ALLISS)

LONDON (Alliance News) - GCP Asset Backed Income Fund Ltd on Wednesday declared its fourth ...

Alliance News 23 January, 2019 | 10:22AM
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LONDON (Alliance News) - GCP Asset Backed Income Fund Ltd on Wednesday declared its fourth quarterly dividend and said it is considering a possible equity raise during the first quarter of 2019

GCP, which invests in asset backed loans, proposed a 1.525 pence per share payout for the three months to the end of December 2018, unchanged year-on-year.

Separately, the company said it plans fundraising to repay monies drawn down under its revolving credit facility. In addition, GCP intends to invest the reminder of the proceeds in "attractive opportunities" identified by its investment manager Gravis Capital Management Ltd.

GCP shares were trading 1.1% lower on Wednesday at 104.84 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
GCP Asset Backed Income 107.50 GBX 0.47 -
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