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New £150 million term-loan facility

4th Apr 2024 07:00

RNS Number : 2379J
Drax Group PLC
04 April 2024
 

4 April 2024

Drax Group plc

("Drax"; Symbol: DRX)

 

New £150 million term-loan facility

 

Drax is pleased to announce that it has completed a new £150 million term-loan facility, comprised of an initial £125 million facility with an optional uncommitted extension of £25 million.

 

The facility, along with the undrawn £258 million term-loan facility signed in February 2024, will be used to refinance 2025 debt maturities.

 

These combined facilities have two tranches maturing in 2027(1) and 2029(2) and a customary margin referenced over SONIA (Sterling Overnight Index Average) for sterling loans and over EURIBOR (Euro Interbank Offered Rate) for euro loans.

 

Note

(1) 2027: €135 million and £145 million.

(2) 2029: €50 million and £80 million, with an optional uncommitted extension of £25 million.

 

Enquiries:

Drax Investor Relations: Mark Strafford

+44 (0) 7730 763 949

 

Media:

Drax External Communications: Ali Lewis

+44 (0) 0771 267 0888

 

Website: www.drax.com

 

END

 

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