GCP Infrastructure loan note portfolio refinanced

Infrastructure debt-focussed fund GCP Infrastructure Investments announced on Thursday that a refinancing by funds and accounts under management by Blackrock Investment Management of a portfolio of loan notes held by the GCP Infra was completed on 29 November.

The FTSE 250 firm said the notes were secured against infrastructure assets in the UK, and were valued at £97.4m as at 30 September.

“Pursuant to this refinancing, the company will retain a subordinated investment of £27.7m secured against the cash flows from the same portfolio of assets at a materially enhanced rate of return,” the board explained in its statement.

“The proceeds of this refinancing will be used for making new investments in accordance with the company's investment policy.”