John Laing Environmental Asset Group is to raise £30m to help finance a pipeline of biomass and anaerobic digestions projects.
The company will kick off a share issue in the near future following publication of a prospectus on 23 February.
Net proceeds will be used to repay amounts drawn down from a revolving credit facility to allow for reinvestment in the bio portfolio.
The initial placing will be made to qualified investors via Winterflood Securities with an issue price to be finalised following the close of the bookbuild.
The latter is expected by 6 March but could come earlier or later pending uptake and at the discretion of the company.
Image: SXC
John Laing targets bio bankroll
By EBS