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Power generation company Drax Group said it had completed the refinancing of an acquisition bridge facility and entered into two senior debt facilities with a combined value of £500m.
The facilities included a £375m private placement agreement and a £125m environmental, social and governance facility agreement.
The private placement with infrastructure lenders comprised facilities with maturities between 2024 and 2029.
The £125 ESG facility matured in 2022.
Together, they extended the group's debt maturity profile beyond 2027 and reduce the group's overall cost of debt to below 4%.
At 2:43pm: (LON:DRX) Drax Group PLC share price was +19.5p at 306.3p