Revolving Credit Facility Refinancing Completed

RNS Number : 5445I

Drax Group PLC

09 December 2015

 

9 December 2015

Drax Group plc

("Drax" or the "Company"; Symbol:DRX)

Revolving Credit Facility Refinancing Completed

Drax is pleased to announce that it has completed the refinancing of its revolving credit facility.

The new £400 million facility matures in December 2019 and has a margin of 175 basis points over LIBOR. It replaces the existing £400 million facility (margin of 225 basis points over LIBOR).

Drax has also successfully renewed its commodity trading facility, which allows the Company to transact prescribed volumes of commodity trades without the requirement to post collateral.

Enquiries:

Drax Investor Relations: Mark Strafford

[phone]

Media:

Drax External Communications: Andrew Brown

[phone]

Website: www.drax.com

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