Greencoat UK Wind rises £147m gross

Greencoat UK Wind said the second issue of its share issuance programme has produced gross proceeds of £147m.

It said this comprised 133,636,364 new shares at 110p each. "The proceeds will be used to pay down the Company's short term acquisition facility in full, enabling Greencoat UK Wind to pursue a pipeline of attractive investment opportunities," said chair Tim Ingram in a statement.

"The Company's long term borrowings will remain in place."

Following the receipt of Net Issue Proceeds and subsequent full repayment of borrowings under its Revolving Facility Agreement, UKW will have outstanding borrowings of £100m under its Long Term Facility Agreement, equivalent to about 11% of Gross Asset Value.