Drax has made further progress on debt financing, refinancing its revolving credit facility, drawing on its previously announced infrastructure facility and using its recent bond issue to redeem earlier loans. While much of this is tidying up, it provides efficient longer-term financing visibility at a time when the company has strong investment opportunities notably in biomass supply. The group cost of debt is now well below 4% at c.3.7%.
19 Nov 2020
Financing Improved
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Financing Improved
Drax Group plc (DRX:LON) | 490 -46 (-1.9%) | Mkt Cap: 1,894m
- Published:
19 Nov 2020 -
Author:
Adam Forsyth -
Pages:
6
Drax has made further progress on debt financing, refinancing its revolving credit facility, drawing on its previously announced infrastructure facility and using its recent bond issue to redeem earlier loans. While much of this is tidying up, it provides efficient longer-term financing visibility at a time when the company has strong investment opportunities notably in biomass supply. The group cost of debt is now well below 4% at c.3.7%.