(Alliance News) - Drax Group PLC on Friday said its subsidiary Drax Finco PLC has elected to redeem all of its outstanding GBP350.0 million senior secured fixed rate notes due 2022.
The FTSE 250-listed electrical power generation company said it will redeem the notes on November 19. The redemption price will be equal to 101.0625% of the principal amount of the fixed rate notes to be redeemed, plus additional amounts, if any, and, accrued and unpaid interest from November 1 to, but not including, the redemption date.
Drax Group shares closed 2.1% lower in London on Friday at 302.20 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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