GCP Infrastructure Investments secures revolving credit facility

From four lenders

GCP Infrastructure Investments trust has entered into a new revolving credit facility (RCF), reducing its total RCF commitments to £150m from £190m.

In a stock exchange notice today (20 February), the board said the facility has been agreed with four lenders: Lloyds Bank, Mizuho Bank, Allied Irish Bank and Clydesdale Bank (trading as Virgin Money). The RCF has a three-year term, GCP explained, and was refinanced "on similar terms to the previous revolving credit facility". The only change was the introduction of additional flexibility in utilisations and repayments, it noted, to allow the trust to enhance its working capital management. GCP Infra eyes partial sale of portfolio assets to return £50m to shareholders Interest and ...