17th Feb 2020 14:32
(Alliance News) - GCP Asset Backed Income Fund Ltd on Monday said it has received a total repayment amount of GBP49 million in respect of two loans invested in co-living properties, as well as a repayment fee of around GBP1 million.
The Jersey-based asset backed loans investor said it has recommitted GBP53 million to the undisclosed borrower as part of a wider facility of up to GBP140 million.
GCP said that the facility is for a term of up to four years, adding that the increased commitment will allow the borrower to build out its current pipeline of projects.
The stock was 0.7% higher at 106.73 pence each on Monday afternoon in London.
By Ife Taiwo; [email protected]
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