LONDON (Alliance News) - Renewables Infrastructure Group Ltd said Friday it has raised GBP64.2 million via share placing to repay some debt.
Renewables Infrastructure issued 60.0 million shares at 107 pence each, well exceeding the initial target of GBP20 million. Shares were up 0.2% on Friday at a price of 107.58p each.
On June 28, the company said it was issuing shares to raise GBP20 million due to "market demand".
Renewables Infrastructure said it will use the proceeds from the placing in order to repay amounts drawn under a revolving acquisition facility with Royal Bank of Scotland Group PLC, National Australia Bank Ltd and ING Bank NV.
Admission of the new shares to trading is expected on July 10, following which the company will have 1.09 billion shares in issue.
Renewables Infrastructure Group (TRIG)