16th Apr 2019 11:26
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.
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