RNS Number : 9331Y
Drax Group PLC (Symbol: DRX)
Drax is pleased to announce that it has agreed a new infrastructure term loan facilities agreement (the “Agreement”) that provides committed facilities of approximately £160 million with a range of maturities between 2024 and 2030(1), further extending Drax’s debt maturity profile.
The facilities have an average margin of 2.07%(2). Taken together with Drax’s existing borrowing, including a carbon-linked ESG(3) facility which was recently extended to 2025, this Agreement further reduces the Group’s all-in cost of debt below 4%.
The Agreement also includes an option for Drax to obtain up to a further £75 million of facilities, if agreed between Drax and its lenders. If utilised, these additional facilities could have a maturity of up to 2030.
The facilities under this Agreement also have a delayed draw(4) and proceeds are expected to be used in the ordinary course of business.
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/uk
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