GCP Infrastructure (GCP) has repaid its revolving credit facility on which it had drawn £24m at 30 June following the £40m debt refinancing of its ground-mounted solar photovoltaic projects and £13m from the sale of an anaerobic digestion plant in Northern Island and two onshore wind assets at Winscales Moor and Burton Wold.
James Carthew, head of investment company research at QuotedData, said: “The shift to a net cash position and disposals at a premium to NAV represent more encouraging news from GCP, which has seen fairly steady share price rises over the past few months. I still think that the 8.4% yield is attractive and we should see the discount come in further from its current 17% level.”
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