Drax Group plc (GB:DRX) has released an update.
Drax Group plc’s subsidiary, Drax Finco plc, has successfully priced a €350 million five-year senior secured notes offering with an annual interest rate of 5.875%. The new issuance aims to extend the company’s average debt maturity and the proceeds will be used for general corporate purposes, including potential debt repayment and covering the costs associated with the offering.
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