Drax Group PLC New £150 million term-loan facility

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

[phone]

 

Media:

Drax External Communications: Ali Lewis

[phone]

 

Website: www.drax.com

 

END

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

MSCEAELDEFPLEAA