Renewables Infrastructure Group Share News (TRIG)

LONDON (Alliance News) - Renewables Infrastructure Group Ltd said Friday it raised GBP57.6 million through a share placing, more than double its initial target.

Renewables Infrastructure - an investment firm - issued 54.9 million shares at a placing price of 105 pence each. Shares in the company were 0.4% lower at 105.00 pence on Friday.

On Monday, Renewables Infrastructure announced it planned to raise up to GBP25.0 million through the share issue at the same price.

Proceeds will be used to repay drawn down funds from its revolving debt facility with the Royal Bank of Scotland Group PLC, National Australia Bank Ltd and ING Bank NV.

After admission - expected next Tuesday - Renewables Infrastructure will have 1.00 billion shares outstanding.

Canaccord Genuity Ltd and Liberum Capital Ltd acted as joint corporate brokers for the placing.