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SSE PLC - Perth, Scotland-based energy company - Agrees with a group of 15 relationship banks to a new revolving credit facility alongside Scottish Hydro Electric Transmission PLC, totalling £3.0 billion and split into two £1.5 billion facilities. Both facilities will run to October 2029, with options to extend to October 2031. The SSE facility replaces a £1.3 billion revolving credit facility that was due to mature in March 2026 and a £200 million bilateral facility due to mature in October 2026. The Scottish Hydro Electric Transmission facility refinances and increases its existing £750 million revolving credit facility due to mature in November 2026. SSE Chief Financial Officer Barry O’Regan said: ‘Our renewables and transmission businesses are growing strongly, delivering nationally important investments, which will make a significant impact as the UK seeks to meet renewables deployment and climate targets. Both SSE’s and Scottish Hydro Electric Transmission’s projects are mission-critical to these efforts and these new committed bank facilities provide a good liquidity base, consistent with our commitment to maintaining a strong balance sheet through financial discipline whilst delivering value-enhancing investment.’ Current stock price: 1,849.41 pence, closed 2.3% lower in London on Thursday afternoon 12-month change: up 16% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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