GCP Infrastructure raises £90 million
GCP Infrastructure Investments Ltd has announced it has raised £90 million (US$112 million) after increasing the size of its placing.
Originally the company had planned to raise £60 million. Shares in GCP Infrastructure were up 0.8% at 123.9 pence today.
Under the terms of its placing programme, GCP Infrastructure decided to issue up to a maximum of 110.6 million shares, though had originally considered to issue 48.6 million shares. This increased was due the availability of investment opportunities in the near-term and demand from investors for its shares.
The company is the only UK listed infrastructure fund focused primarily on investments in UK infrastructure debt. The Company's existing, diversified investment portfolio is secured against long dated, public sector-backed cash flows and offers partial inflation protection.
The company’s investment objectives are to provide its shareholders with regular, sustained, long-term distributions, and to preserve the capital value of its investment assets over the long term, by generating exposure to senior and subordinated PFI debt and related and/or similar assets.
The GCP Infrastructure Investments is currently exposed to a diverse portfolio of of UK infrastructure sectors including education and healthcare PFI and renewable energy projects.
In June 2015, we reported that GCP Infrastructure Investments raised £70 million (US$111 million) of gross proceeds through the placing of 61 million new ordinary shares.The placing price per new ordinary share was 114.75 pence.
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