TIDMGABI

RNS Number : 3905A

GCP Asset Backed Income Fund Ltd

24 March 2017

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR THE UNITED STATES OF AMERICA OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

GCP Asset Backed Income Fund Limited ("GCP Asset Backed Income" or the "Company")

New investment

24 March 2017

Investment commitment of GBP7 million

GCP Asset Backed Income, which invests in asset backed loans, is pleased to announce that it has committed to a loan of up to GBP7 million which will be used to finance a portfolio of buy-to-let mortgages.

The loan, with a term of c.three years, will be secured on a subordinated ranking basis against a portfolio of loans, secured against UK residential property. The loan note will be issued in tranches, with an initial amount to be advanced of c.GBP3.8 million.

The loan has been funded from the net proceeds of its recent issue of C shares.

For further information, please contact:

 
 Gravis Capital Partners LLP                                   +44 (0)20 7518 1490 
 David Conlon                   david.conlon@gcpuk.com 
 Philip Kent                    philip.kent@gcpuk.com 
 Dion Di Miceli                 dion.dimiceli@gcpuk.com 
 
 Cenkos Securities plc                                         +44 (0)20 7397 8900 
 Tom Scrivens                   tscrivens@cenkos.com 
 Oliver Packard                 opackard@cenkos.com 
 Sapna Shah                     sshah@cenkos.com 
 
 Buchanan                                                     +44 (0)20 7466 5000 
 Charles Ryland                 charlesr@buchanan.uk.com 
 Vicky Watkins                  victoriaw@buchanan.uk.com

Notes to Editors

The Company

The Company is a closed ended investment company traded on the Main Market of the London Stock Exchange. Its investment objective is to generate attractive risk-adjusted returns primarily through regular, growing distributions and modest capital appreciation over the long term.

The Company seeks to meet its investment objective by making investments in a diversified portfolio of predominantly UK based asset backed loans which have contracted, predictable medium to long term cash flows and/or physical assets.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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