26th Jul 2018 12:42
LONDON (Alliance News) - GCP Asset Backed Income Fund Ltd said Thursday that it is considering to raise over GBP70 million via open offer, subscription and placing of C shares at 100 pence per share.
Shares in the company were trading 0.5% higher at 103.00 pence each on Thursday afternoon.
The company, which invests in asset backed loans, said proceeds will be used to take advantage of a pipeline of investment opportunities identified by investment manager Gravis Capital Management Ltd. Proceeds will also be used to repay any monies drawn down by the company under its revolving credit facility
GCP Asset Backed separately declared a special dividend of 0.25 pence per ordinary share, bringing the total dividend declared in the last 12 months to 6.35p per share.
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