Greencoat has raised £100m in a share sale to pay down debt and fund growth.
The listed wind power fund sold 95.2m new shares at 105 pence each, taking the total listed stock to 602.5m, it said.
Following the issue, the UK fund will have outstanding borrowings of £125m from its revolving facility and £100m from its long term loan, or about 26% of its gross asset value.
Greencoat chairman Tim Ingram said: “We are pleased to be announcing a successful first tranche of our ongoing share issuance program and are very appreciative of strong shareholder support.”
“The proceeds will be put to work straight away by paying down our acquisition facility and, in turn, enabling us to take advantage of our pipeline of value-accretive growth opportunities.”
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