Drax has announced additional loan facilities which will reduce its all-in cost of borrowing to below 4% and we see this as helping to give Drax the firepower to expand its US-based biomass feedstock business efficiently. We see this business as having growing importance as several governments look towards biomass carbon capture and storage as a key component of the net zero tool kit.
15 Sep 2020
Drax - cost of debt falls
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Drax - cost of debt falls
Drax Group plc (DRX:LON) | 507 68 2.7% | Mkt Cap: 1,961m
- Published:
15 Sep 2020 -
Author:
Adam Forsyth -
Pages:
6
Drax has announced additional loan facilities which will reduce its all-in cost of borrowing to below 4% and we see this as helping to give Drax the firepower to expand its US-based biomass feedstock business efficiently. We see this business as having growing importance as several governments look towards biomass carbon capture and storage as a key component of the net zero tool kit.