GCP Infrastructure enters new revolving credit facilities arrangements

(Alliance News) - GCP Infrastructure Investments Ltd on Tuesday announced it has entered into new ...

Alliance News 30 March, 2021 | 10:48AM
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(Alliance News) - GCP Infrastructure Investments Ltd on Tuesday announced it has entered into new arrangements for revolving credit facilities of GBP165 million.

GCP Infrastructure Investments focuses primarily on investments in UK infrastructure debt.

The facilities are split across two tranches, with a three-month tranche of GBP25 million expiring in June 2021 and a three-year tranche of GBP140 million expiring in March 2024. Interest on amounts drawn under the facilities will be charged at Sterling Overnight Index Average plus 2.0% per annum, it said.

GCP Infrastructure said the three-month facility will be repaid out of company resources prior to its expiry. It agreed to the facilities with lenders Royal Bank of Scotland International, Lloyds Banking Group PLC and Allied Irish Bank.

Shares in GCP Infrastructure were down 0.4% at 101.60 pence in London on Tuesday.

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
GCP Infrastructure Investment Ord 98.20 GBX 2.29 -
Lloyds Banking Group PLC 47.51 GBX -0.92

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Alliance News

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

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