Drax Group PLC Offering of senior secured notes due 2025 (1670K)
April 06 2018 - 10:27AM
UK Regulatory
TIDMDRX
RNS Number : 1670K
Drax Group PLC
06 April 2018
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO
AUSTRALIA, CANADA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH
OFFERS OR SALES OF SECURITIES WOULD BE PROHIBITED BY APPLICABLE
LAW. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS
RELEASE.
6 April 2018
Drax Group plc
("Drax" or "the Company")
Symbol: DRX
Drax Group plc ("Drax") made the below announcement on the
Luxembourg Stock Exchange in respect of its GBP350,000,000 4 1/4%
Senior Secured Fixed Rate Notes due 2022 and GBP200,000,000 Senior
Secured Floating Rate Notes due 2022
************
Launch of offering of senior secured notes due 2025 to redeem in
full senior secured floating rate notes due 2022
Drax Group plc ("Drax") today announced that its indirect wholly
owned subsidiary, Drax Finco plc, has launched an offering (the
"Offering") of U.S. dollar denominated senior secured notes due
2025 (the "Notes"), in an aggregate principal amount of $300.0
million.
The proceeds will be used to redeem in full Drax Finco plc's
outstanding senior secured floating rate notes due 2022 on or after
1 May 2018, to pay related fees and expenses of the Offering and
the redemption including underwriting fees and commissions,
professional fees and other associated transaction costs as well as
the applicable redemption premium and accrued and unpaid interest
to the date of redemption and for general corporate purposes. There
can be no assurance that the Offering will be completed or that the
redemption will be launched or completed.
Enquiries:
Drax Investor Relations:
Mark Strafford
+44 (0) 1757 612 491
Media:
Drax External Communications:
Ali Lewis
+44 (0) 1757 612165
Website: www.drax.com
Cautionary Statement
This release is for information purposes only and does not
constitute a prospectus or any offer to sell or the solicitation of
an offer to buy any security in the United States of America or in
any other jurisdiction. Securities may not be offered or sold in
the United States of America absent registration or an exemption
from registration under the U.S. Securities Act of 1933, as amended
(the "Securities Act"). The Notes will be offered in a private
offering exempt from the registration requirements of the
Securities Act and will accordingly be offered only to (i)
qualified institutional buyers pursuant to Rule 144A under the
Securities Act and (ii) certain non-U.S. persons outside the United
States in compliance with Regulation S under the Securities Act. No
indebtedness incurred in connection with any other financing
transactions will be registered under the Securities Act.
This communication is directed only at persons who (i) have
professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 as amended (the "Order"), (ii) are
persons falling within Article 49(2)(a) to (d) ("high net worth
companies, unincorporated associations, etc.") of the Order, (iii)
are persons who are outside the United Kingdom, and (iv) are
persons to whom an invitation or inducement to engage in investment
activity (within the meaning of section 21 of the Financial
Services and Markets Act 2000) in connection with the issue or sale
of any notes may otherwise lawfully be communicated or caused to be
communicated (all such persons together being referred to as
"relevant persons"). Any investment activity to which this
communication relates will only be available to, and will only be
engaged in with, relevant persons. Any person who is not a relevant
person should not act or rely on this document or any of its
contents.
This announcement is not a public offering in the Grand Duchy of
Luxembourg or an offer of securities to the public in any European
Economic Area member state that has implemented Directive
2003/71/EC, and any amendments thereto (together with any
applicable implementing measures in any member state, the
"Prospectus Directive").
Manufacturer target market (MiFID II product governance) is
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs key information document (KID)
has been prepared as the Notes are not available to retail
investors in the European Economic Area.
Forward Looking Statements
This release includes forward-looking statements within the
meaning of the securities laws of certain applicable jurisdictions.
These forward-looking statements can be identified by the use of
forward-looking terminology, including, but not limited to, terms
such as "aim", "anticipate", "assume", "believe", "continue",
"could", "estimate", "expect", "forecast", "guidance", "intend",
"may", "outlook", "plan", "predict", "project", "should", "will" or
"would" or, in each case, their negative, or other variations or
comparable terminology. These forward-looking statements include,
but are not limited to, all statements other than statements of
historical facts and include statements regarding Drax's
intentions, beliefs or current expectations concerning, among other
things, Drax's future financial conditions and performance, results
of operations and liquidity, strategy, plans, objectives,
prospects, growth, goals and targets, future developments in the
markets in which Drax participate or are seeking to participate,
and anticipated regulatory changes in the industry in which Drax
operate. By their nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors because they
relate to events and depend on circumstances that may or may not
occur in the future. Readers are cautioned that forward-looking
statements are not guarantees of future performance and are based
on numerous assumptions. Given these risks and uncertainties,
readers should not rely on forward looking statements as a
prediction of actual results.
--ENDS--
This information is provided by RNS
The company news service from the London Stock Exchange
END
IODZQLFBVZFLBBZ
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April 06, 2018 10:27 ET (14:27 GMT)
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