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Impax Environmental Markets PLC - London-based investment trust backing companies offering solutions to environmental challenges - Completes €60 million placement of notes with Pricoa Private Capital, part of PGIM Inc, which closed and settled on September 1. Notes consist of three tranches of €20 million, €30 million and €10 million maturing in September 2030, 2033 and 2035, with interest payable semi-annually. Impax has used proceeds to repay €32.2 million debt from the Bank of Nova Scotia. Impax also agrees a new two-year £80 million multi-currency revolving credit facility with Bank of Nova Scotia, effective from Wednesday. RCF has an initial committed amount of £35 million, and is secured by a floating charge over Impax’s assets. Impax Chair Glen Suarez says this ‘provides us with an attractive blend of structural longer-term institutional and short term bank debt and comes at a time when...portfolio valuation makes gearing desirable.’ Current stock price: 393.12 pence 12-month change: down 8.6% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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