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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August 20, 2021 02:00 ET (06:00 GMT)

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