(Alliance News) -Â Greencoat UK Wind PLC on Friday said it is looking to raise up to GBP198 million via a share placing.
The placing price of 131 pence represents a discount of 2.1% to Thursday's closing price. Shares in Greencoat UK wind were down 0.8% at 132.70p in London early Friday.
Proceeds from the placing will be used to repay or reduce borrowings under the company's revolving credit facility to allow Greencoat UK Wind to fund its "strong pipeline of acquisition opportunities". This includes an acquisition in the near term and GBP162 million of previously announced committed acquisitions over the next 12 months.
RBC Europe Ltd and Jefferies International Ltd are acting as joint global coordinators and joint bookrunners.
By Lucy Heming;Â lucyheming@alliancenews.com
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Greencoat UK Wind (UKW)