| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Greencoat UK Wind seeks to raise £198m through placing to repay borrowings and fund pipeline of acquisitions
StockMarketWire.com
|
Wind farm investor Greencoat UK Wind has announced the launch of a placing to raise up to £198 million which will be used to repay borrowings and fund acquisitions.
The company said it intends to place up to 150,853,600 new ordinary shares at a price of 131p per placing share, representing a discount of 2.1% to the closing share price on 11 February 2021.
Greencoat UK Wind will use the proceeds to repay or reduce borrowings under its revolving credit facility, allowing it to fund its 'strong pipeline' of acquisition opportunities, including an acquisition in the near term and £162 million of previously announced committed acquisitions over the next 12 months.
It said: 'Following the completion of the near term acquisition, and assuming that the maximum amount has been raised under the placing, the company expects to have outstanding gearing of 28% of gross asset value, of which £700 million is fixed rate term debt.'
At 9:40am: (LON:UKW) Greencoat UK Wind PLC share price was 0p at 133p
Story provided by StockMarketWire.com
|
|
|
|
|
|
