GCP Asset Backed Income Fund Ltd Extension to term of Revolving Credit Facility (5887S)
10 July 2020 - 4:00PM
UK Regulatory
TIDMGABI TIDMGABC
RNS Number : 5887S
GCP Asset Backed Income Fund Ltd
10 July 2020
GCP Asset Backed Income Fund Limited
(the "Company" or "GCP Asset Backed")
LEI 213800FBBZCQMP73A815
Extension to term of Revolving Credit Facility
10 July 2020
On 16 April 2019, GCP Asset Backed, which invests in asset
backed loans, announced that it had entered into an agreement with
Royal Bank of Scotland International Limited in respect of a
revolving credit facility for an amount of GBP50 million maturing
in August 2020 (plus a 12-month extension option, with lender
approval).
The Company hereby announces that this 12-month extension has
now been exercised, and, as a result, the facility will expire in
August 2021. All terms of the revolving credit facility remain the
same as previously disclosed.
The Company's investment manager, Gravis Capital Management
Limited, considers having continued access to the revolving credit
facility an essential tool to allow the Company to access
attractive investment opportunities. As at the date of this
announcement, the facility is undrawn.
For further information please contact:
Gravis Capital Management Ltd +44 (0)20 3405 8500
David Conlon
J oanne Fisk
Investec Bank plc +44 (0)20 7597 4000
Helen Goldsmith
Denis Flanagan
Neil Brierley
Buchanan/Quill +44 (0)20 7466 5000
Helen Tarbet
Sarah Gibbons-Cook
Henry Wilson
Notes to Editors
The Company
GCP Asset Backed 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCBRGDRCUGDGGC
(END) Dow Jones Newswires
July 10, 2020 02:00 ET (06:00 GMT)
Gcp Asset Backed Income (LSE:GABI)
Historical Stock Chart
From Apr 2024 to May 2024
Gcp Asset Backed Income (LSE:GABI)
Historical Stock Chart
From May 2023 to May 2024