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GCP Infrastructure investment commitment of £140m

18 August 2017 07:57

GCP Infrastructure Investments has confirmed it intends to subscribe for a series of loan notes with a value of c. £140m under a binding commitment with an entity owned by Macquarie Group announced on 20 April.

The commitment was conditional on Macquarie acquiring the UK Green Investment Bank, which was subject to regulatory approval.

The board of GCP Infrastructure said that as Macquarie announced today that it had completed the GIB transaction, the company intended to subscribe for a series of loan notes in accordance with the commitment.

GCP Infrastructure said it intended to subscribe for a series of loan notes with a value of c. £140 million over a two year period.

It said approximately £90 million would be advanced in the coming days, with expected terms of between c.13 and 25 years.

It said the loan notes would be used to finance the purchase of, and ongoing commitments related to, investments secured against 23 UK based projects across multiple sectors including waste to energy, onshore wind, hydro, landfill gas and building retrofit schemes

Story provided by StockMarketWire.com

Related Company: GCP

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