Drax Group PLC - Yorkshire, England-based electricity company - Completes a new GBP150 million term-loan facility, comprising an initial GBP125 million facility with an optional uncommitted extension of GBP25 million. This facility, along with the undrawn GBP258 million term-loan facility signed in February, will be used to refinance 2025 debt maturities. Says these combined facilities have two tranches maturing in 2027 for EUR135 million and GBP145 million loans, and in 2029 for EUR50 million and GBP80 million loans, with the optional GBP25 million extension. Says the combined facilities have a customary margin referenced over the sterling overnight index average for sterling loans over Euribor for euro loans.
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By Greg Rosenvinge, Alliance News senior reporter
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Drax (DRX)
