21st Oct 2020 16:58
Drax Group PLC - FTSE 250 electricity generator - Unit Drax Finco PLC prices offering of euro-denominated senior secured notes due 2025 at aggregate principal amount of EUR250 million. Notes will bear interest at a rate of 2 5/8% per annum and will be issued at 100% of their nominal value.
Cross-currency swaps have been placed to convert the proceeds of the offering into sterling as a result of which of the sterling-equivalent interest rate is 3.2% per annum.
Proceeds from the offering will go towards general corporate purposes, repayment of indebtedness and to pay fees and expenses related to the offering.
Current stock price: 298.00 pence
Year-to-date change: down 5.1%
By Dayo Laniyan; [email protected]
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