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Drax Group PLC - Selby, England-based electricity generator - Announces the refinancing of its revolving credit facility into a new sustainability-linked facility of £450 million due to mature in 2027 with options to extend by two years. The facility provides additional liquidity and replaces an existing £300 million facility which matures in 2026. Drax says: ‘The facility has a customary margin grid referenced over [Sterling Overnight Index Average] with adjustments linked to certain scope 1, 2 and 3 carbon emissions which are based on the group’s 2030 [science based targets initiative] targets.’ The company also completed a £50 million term-loan facility which matures in 2028 with a one-year extension option for general corporate purposes. Current stock price: 659.50 pence, down 1.1% on Tuesday morning in London 12-month change: up 18% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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