(Alliance News) - Renewables Infrastructure Group Ltd on Wednesday said it reached its target of raising around GBP240 million in the first part of its 12-month share issuance programme.
TRIG, a Guernsey-based company which invests in renewable energy infrastructure, will issue 195 million shares at a price of 123 pence each. The proceeds will be used to pay down the recently renewed GBP500 million revolving credit facility, which was used for acquisitions. After that, the company will have drawings of approximately GBP135 million, it said.
"This fundraise will enable the company to continue to support the growth of its portfolio of renewable infrastructure assets," Helen Mahy, chair of TRIG, said.
Shares were down 1.8% to 122.20 pence in London on Wednesday.
By Ivan Edwards; ivanedwards@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Renewables Infrastructure Group (TRIG)