Greencoat UK Wind PLC Result of Capital Raise (5188P)

TIDMUKW

RNS Number : 5188P

Greencoat UK Wind PLC

18 November 2016

Result of Capital Raise

Greencoat UK Wind plc (the "Company" or "UKW"), the leading listed renewable infrastructure fund, invested in operating UK wind farms, today announces the result of the Second Issue of the Share Issuance Programme as announced on 25 October.

Highlights

   --      Gross Issue Proceeds of GBP147 million 

-- 133,636,364 New Ordinary Shares, at an issue price of 110 pence per share, will be issued, increasing total Ordinary Shares to 736,700,850

Commenting on the announcement, Tim Ingram, Chairman of UKW, said: "We are delighted to announce a heavily oversubscribed capital raise, highlighting the strong support of both existing and new shareholders. The proceeds will be used to pay down the Company's short term acquisition facility in full, enabling Greencoat UK Wind to pursue a pipeline of attractive investment opportunities. The Company's long term borrowings will remain in place."

Following the receipt of Net Issue Proceeds and subsequent full repayment of borrowings under its Revolving Facility Agreement, UKW will have outstanding borrowings of GBP100 million under its Long Term Facility Agreement, equivalent to c.11% of Gross Asset Value.

Application will be made for the 133,636,364 New Ordinary Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities with effect from 8.00 a.m. on 22 November 2016.

Definitions used in the Prospectus apply to this announcement unless the context requires otherwise.

For further information, please contact:

 
 Greencoat UK Wind                  020 7832 9425 
 Stephen Lilley 
 Laurence Fumagalli 
 Tom Rayner 
 
 RBC Capital Markets (Sponsor 
  and Bookrunner)                   020 7653 4000 
 Darrell Uden 
  Duncan Smith 
 Matthew Coakes 
 
 Kepler Partners (Placing Agent) 
  Hugh van Cutsem                   020 3384 8796 
 Tulchan Communications             020 7353 4200 
 Stephen Malthouse 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 18, 2016 02:00 ET (07:00 GMT)