GCP Asset Backed Income Fund Ltd Extension to term of Revolving Credit Facility (2283J)
20 August 2021 - 4:00PM
UK Regulatory
TIDMGABI TIDMGABC
RNS Number : 2283J
GCP Asset Backed Income Fund Ltd
20 August 2021
GCP Asset Backed Income Fund Limited
(the "Company" or "GCP Asset Backed")
LEI 213800FBBZCQMP73A815
Extension to term of Revolving Credit Facility
20 August 2021
On 10 July 2020, GCP Asset Backed, which invests in asset backed
loans, announced that it had exercised a 12-month extension option
in respect of its GBP50 million Revolving Credit Facility ("RCF")
with Royal Bank of Scotland International Limited (the "lender"),
maturing in August 2021.
The Company is pleased to announce that the RCF has been
extended by 24-months on the same terms as the previous facility.
An additional 12-month extension option has also been included to
be approved at the lender's discretion upon expiration in August
2023.
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 drawn by GBP20.2 million.
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.
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END
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