LONDON (Alliance News) - Greencoat UK Wind PLC on Wednesday confirmed it has raised GBP131 million via a share placing which will be used to repay its credit facility.
The FTSE 250-listed wind farm investor placed 102.9 million shares, the intended number when announcing the issue at the beginning of February. Back then, it set the placing price at 127 pence per share.
Chair Tim Ingram said: "We are grateful for the continued support from our shareholders, which has led to another oversubscribed equity capital raise and is reflective of the strong demand for UKW's attractive investment returns, proven track record and simple, low risk model."
The company now expects to have GBP794 million of outstanding debt, which is equal to 34% of gross asset value.
Greencoat shares were trading up 1.5% at 132.60 pence on Wednesday, giving it a market capitalisation of GBP1.50 billion.
Greencoat UK Wind (UKW)