15th Dec 2005 08:00
Drax Group PLC15 December 2005 Drax Group plc ("Drax")15 December 2005 ADMISSION TO THE OFFICIAL LIST The Ordinary Shares of Drax were admitted to the Official List of the UK ListingAuthority and dealings commenced on the London Stock Exchange earlier today,shortly after the Schemes of Arrangement became effective. In addition, S&P earlier today confirmed that it has assigned a "BBB-" corporatecredit rating to Drax Power Limited, the trading subsidiary of Drax. Inaddition, the senior secured debt facilities of Drax, comprising term loan,letter of credit and revolving credit facilities, have been assigned a "BBB"rating. Gordon Horsfield, Chairman of Drax, commented: "I am delighted with the outcome of the process which has delivered ourrefinancing and listing. Drax is a major participant in the UK power market andwe are pleased that a broad range of investors will now be able to participate.I would like to thank all of our staff and advisers who have been instrumentalin helping us pass this milestone and we look forward to the future withconfidence and optimism." Enquiries:For more information, please contact: Andrew JonesMelanie WedgburyDrax +44 (0)1757 618381 David TrenchardPeter HewerTulchan Communications +44 (0)20 7353 4200 -ENDS- Notes to Editors: (1) The refinancing and listing was effected through schemes of arrangementin England and Wales, Jersey and Cayman Islands which became effective today. (2) Drax Group plc is the ultimate holding company of Drax Power Limited, thetrading subsidiary of the Drax group of companies and the owner of Drax PowerStation, the largest, cleanest and most efficient coal fired power station inthe UK. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Drax