Drax Group plc, a leading sustainable biomass and energy company, has announced the pricing of its offering of euro-denominated five-year senior secured notes in an aggregate principal amount of €350 million. The notes will bear interest at a rate of 5.875% per annum and will be issued at 100% of their nominal value, extending the Group's average debt maturity profile. The gross proceeds of the offering will be used for general corporate purposes, including the repayment of indebtedness and to pay estimated fees and expenses of the offering.
The release emphasizes that the offering is not for publication, distribution, or release in certain jurisdictions, and it provides contact information for investor relations and media inquiries. It also includes a cautionary statement regarding the offering's compliance with U.S. Securities Act regulations and its directed audience, as well as information about the offering's availability to retail investors in the European Economic Area and the United Kingdom.
The announcement concludes with details about the Manufacturer target market, stabilizing manager actions, and the legalities surrounding the offering of the notes in the European Economic Area and the UK.