New £150 million term-loan facility
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
+44 (0) 7730 763 949
Media:
Drax External Communications: Ali Lewis
+44 (0) 0771 267 0888
Website: www.drax.com
END
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