11th Dec 2020 10:32
(Alliance News) - ContourGlobal PLC on Friday announced the pricing of its private offering of senior secured euro notes.
The owner and operator of contracted wholesale power generation businesses said it has priced its EUR410 million 2.75% notes due 2026 as well as the EUR300 million 3.125% notes due 2028 in a private offering.
The offering is expected to close on or about Thursday next week.
ContourGlobal said it intends to redeem EUR450 million of its 3.375% senior secured notes due 2023 with some of the proceeds.
The remaining proceeds will be used for general corporate purposes, including to pay for some of the Western Generation Partners LLC acquisition, a 1,502 megawatt portfolio of long-term contracted assets in the United States and Caribbean, announced on Monday. The assets will be acquired for USD837 million.
ContourGlobal shares were up 0.5% at 210.00 pence each in London on Friday morning.
By Greg Roxburgh; [email protected]
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