StockMarketWire.com - Drax Group said its subsidiary, Drax Finco, completed and settled its $200m bond offering.

The offering included U.S. dollar denominated 65/8% senior secured notes due 2025 in an aggregate principal amount of $200m, the company said.

The notes bear interest at an interest rate of 6.625% a year and were issued at 101.5%. of par.

The proceeds of the offering would be used to repay in part outstanding debt, pay related fees and expenses of the bond offering.

'Drax continues to expect to refinance the remainder of the acquisition bank facility during 2019,' the company said.




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