14th Apr 2016 08:17
LONDON (Alliance News) - Greencoat UK Wind PLC on Thursday said it is issuing up to 300 million shares at an initial 105 pence each through a share issuance programme.
The renewable infrastructure fund said the programmed will be conducted over the next 12 months through a number of tranches. The proceeds will be used to pay down its revolving facility agreement and enable it to pursue further investment opportunities.
"We believe that the future opportunities for Greencoat UK Wind are very exciting. There is a significant asset pool with a healthy number of motivated sellers and we are very well placed to take advantage of this. This programme of capital raises announced today will enable the company both to pay down debt, and to take advantage of value-accretive growth opportunities whilst maintaining its very selective acquisition approach," Chairman Tim Ingram said in a statement.
Shares in Greencoat were trading down 3.1% at 106.50 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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