(Alliance News) - Greencoat UK Wind PLC on Tuesday said it has raised GBP400 million through share placing and share subscription.
The renewable infrastructure fund, which issued 305.3 million shares in total at 131 pence each, will use the proceeds to prepay borrowings under the company's facility agreement.
Shares in Greencoat were up 0.8% at 133.00p each in London on Tuesday morning.
The placing and subscription of shares was made under the company's share issuance programme, announced earlier in September.
Under the programme, Greencoat intends to issue up to a maximum of 750 million new shares over the next 12 months at 131p each.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Greencoat UK Wind (UKW)