20th Aug 2024 10:51
Drax Group PLC - Selby, England-based electricity generator - Announces the refinancing of its revolving credit facility into a new sustainability-linked facility of GBP450 million due to mature in 2027 with options to extend by two years. The facility provides additional liquidity and replaces an existing GBP300 million facility which matures in 2026.
Drax says: "The facility has a customary margin grid referenced over [Sterling Overnight Index Average] with adjustments linked to certain scope 1, 2 and 3 carbon emissions which are based on the group's 2030 [science based targets initiative] targets."
The company also completed a GBP50 million term-loan facility which matures in 2028 with a one-year extension option for general corporate purposes.
Current stock price: 659.50 pence, down 1.1% on Tuesday morning in London
12-month change: up 18%
By Elijah Dale, Alliance News reporter
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