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LONDON (Alliance News) - SSE PLC on Friday said it has refinanced its GBP1.3 billion revolving credit facility provided by a group of ten banks for a new five year period.
The FTSE 100-listed energy firm said the maturity of the loan was extended to March 2024 from July 2022, with options to extend to March 2026.
The refinanced facility also now incorporates an innovative feature, which will adjust the interest rate and fees paid, depending on SSE's performance against a score to be provided by Vigeo Eiris, an independent global provider of environmental, social & governance research.
"I am pleased we have been able to successfully refinance our key corporate liquidity facility on improved terms and now with the environmental, social & governance feature included, this facility along with EUR1.25 billion of outstanding Green bonds, will help SSE, as a major investor in the UK and Ireland energy infrastructure, support our recently announced 2030 sustainable goals," said Finance Director Gregor Alexander.
SSE shares closed down 1.3% on Friday at 1,187.00 pence each.
