REG - Drax Group Plc - Partial cancellation of senior secured notes

DraxAnnouncement

02/05/2024 16:30

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RNS Number : 0679N  Drax Group PLC  02 May 2024

2 May 2024

DRAX GROUP PLC

(LSE: DRX)

Drax Finco plc, a wholly owned subsidiary of Drax Group plc, has made the
below announcement on the Luxembourg Stock Exchange in respect of Drax Finco
plc's €250,000,000 2.625% Senior Secured Notes due 2025

Notice of partial cancellation

€250,000,000 2.625% Senior Secured Notes due 2025 ("the Notes")

ISIN Number: XS2247614063* Common Code: 224761406*

 

On 2 May 2024, Drax Group plc's ("Drax") indirect wholly owned subsidiary,
Drax Finco plc (the "Company"), a public limited company incorporated under
the laws of England and Wales, gave notice, in accordance with Section 2.11
of the indenture dated 4 November 2020, that following the results of the
tender offer announced on 25 April 2024, the Company has repurchased and
cancelled €106,180,000 (42.47%) of the aggregate principal amount of the
Notes. Following this cancellation, the remaining aggregate principal amount
of the Notes outstanding of €143,820,000 will continue to be listed on the
Luxembourg Stock Exchange.

 

*These ISIN and Common Code numbers are included solely for the convenience of
the holders. Neither the Trustee, the Company nor the Paying Agent shall be
responsible for the selection or use of any ISIN or Common Code number, nor is
any representation made as to its correctness or accuracy on any Fixed Rate
Note or as referred to in any redemption notice.

 

Enquiries:

Drax Investor Relations: Mark Strafford

mark.strafford@drax.com

+44 (0) 7730 763 949

 

Media:

Drax External Communications: Andy Low

andrew.low@drax.com

+44 (0) 7841 068 415

 

Website: www (http://www.drax.com) .dra (http://www.drax.com) x
(http://www.drax.com) . (http://www.drax.com) com (http://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 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, or (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 under Regulation (EU) 2017/1129, and any
amendments thereto.

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.

 

END

 

 

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