GCP Asset Backed Income Fund Increases RBS Facility To GBP50 Million

LONDON (Alliance News) - GCP Asset Backed Income Fund Ltd on Tuesday said it increased an ...

Alliance News 16 April, 2019 | 11:26AM
Email Form

LONDON (Alliance News) - GCP Asset Backed Income Fund Ltd on Tuesday said it increased an existing revolving credit facility with Royal Bank of Scotland International Ltd to GBP50 million.

The company entered the facility with RBS in January 2017, when it amounted to GBP15 million.

The GBP50 million facility is split as GBP40 million maturing in August 2020 charged at a rate of LIBOR plus 2.10% and GBP10 million maturing in December 2019 charged at a reduced rate of LIBOR plus 1.70%.

Currently, GBP28 million from the facility has been drawn.

GCP Asset Backed Income Fund shares were trading down 0.2% at 108.26 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
GCP Asset Backed Income 108.02 999 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.