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GCP investment commitment of up to £62.9m

21 August 2015 08:12

GCP Infrastructure Investments has announced the completion of a transaction subscribing for a loan note with a term of 17 years and a value of up to £62.9 million.

The company will advance £36.6 million at completion and the remainder is expected to be drawn down over the next few months subject to various conditions.

The loan note will be issued by GCP Biomass 5 Limited and the proceeds used to provide a loan secured on a senior basis against a portfolio of 5 anaerobic digestion assets owned by Agrivert Limited, a market leading builder and operator of Anaerobic Digestion plants.

Investment by the company in each of the projects will remain subject to each receiving government subsidies, either in the form of the Feed-in Tariff scheme or Renewable Obligation Certificates, which inflate at RPI.

The acquisition of the notes has been financed from a drawing under GCP's revolving credit facility.

At 8:12am: (LON:GCP) GCP Infrastructure Investments Ltd share price was 0p at 119p

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