Investment commitment of £7 million
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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:
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Gravis Capital Partners LLP |
+44 (0)20 7518 1490 |
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David Conlon |
david.conlon@gcpuk.com |
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Philip Kent |
philip.kent@gcpuk.com |
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Dion Di Miceli |
dion.dimiceli@gcpuk.com |
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Cenkos Securities plc |
+44 (0)20 7397 8900 |
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Tom Scrivens |
tscrivens@cenkos.com |
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Oliver Packard |
opackard@cenkos.com |
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Sapna Shah |
sshah@cenkos.com |
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Buchanan |
+44 (0)20 7466 5000 |
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Charles Ryland |
charlesr@buchanan.uk.com |
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Vicky Watkins |
victoriaw@buchanan.uk.com |
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.
This information is provided by RNS