5th Mar 2014 10:55
LONDON (Alliance News) - GCP Infrascture Investments Ltd Wednesday said it has completed a transaction subscribing for loan notes with a term of around 20 years and an aggregate value of GBP5.0 million.
The infrastructure fund which focused primarily on investments in UK infrastructure debt, said the yield on the notes will be around 9.3% a year.
The notes will be issued by GCP Rooftop Solar Ltd, a single purpose company with the proceeds used to make a loan secured on a senior-ranking basis against a portfolio of domestic solar panel installations in England installed by A Shade Greener Limited.
The acquisition of the notes has been financed from available cash reserves, GCP said.
The stock was trading at 110.25 pence Wednesday morning, down 0.50 pence or 0.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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