Drax Group £900 million refinancing

16/5/2017
Investment grade bond/note issue, Refinancing

£ 550 million

$ 712 million

Completed

16/5/2017


Overview:

  • Drax Group has undertaken a refinancing through a £550 million senior secured notes issue and an amendment and restatement of existing senior facilities.
  • The notes issue by Drax Finco, Drax's indirect owned subsidiary, is made up of a £350 million in 4.25% senior secured notes due 2022 and £200 million floating rate senior secured notes due 2022 issued on the Luxembourg Stock Exchange.
  • The company also amended an existing £400 million credit facility, making £350 million available to Drax Corporate.

Katrin Kostadinova - Data analyst

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