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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Drax Group Plc | LSE:DRX | London | Ordinary Share | GB00B1VNSX38 | ORD 11 16/29P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.20 | 1.28% | 490.20 | 488.40 | 490.40 | 492.20 | 480.00 | 480.80 | 990,096 | 16:35:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electric Services | 8.13B | 562.2M | 1.4615 | 3.35 | 1.88B |
TIDMDRX
RNS Number : 9930E
Drax Group PLC
13 July 2021
13 July 2021
Drax Group plc
("Drax", the "Group" or the "Company"; Symbol: DRX)
Refinancing of Pinnacle Debt with Lower Cost ESG Facility
Drax is pleased to announce that it has completed the refinancing of the Canadian dollar facilities it acquired as part of the Group's acquisition of Pinnacle Renewable Energy Inc. (Pinnacle) in April 2021.
The new C$300 million term facility ("the Facility") matures in 2024, with an option to extend by two years(1) , and has a customary margin grid referenced over CDOR(2) .
The Facility reduces further the Group's all-in cost of debt to below 3.5% and includes an embedded ESG component which adjusts the margin payable based on Drax's carbon intensity measured against an annual benchmark.
The Facility, along with surplus cash, replaces Pinnacle's approximately C$435 million facilities which had a cost of over 5.5%.
Enquiries:
Drax Investor Relations: Mark Strafford
+44 (0) 7730 763 949
Media:
Drax External Communications: Selina Williams
+44 (0) 7912 230 393
Website: www.drax.com
END
Note
(1) Subject to lender consent.
(2) Canadian Dollar Offered Rate.
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MSCDKBBPFBKDPOD
(END) Dow Jones Newswires
July 13, 2021 02:00 ET (06:00 GMT)
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