StockMarketWire.com - Renewable Infrastructure Fund launched a share issue to raise up to £79m to pay down debt and target acquisitions.
The number of shares to be issued and their price would be determined via a bookbuild.
The company's revolving acquisition facility with Royal Bank of Scotland, National Australia Bank and ING Bank was currently around £70.5m drawn.
'The net proceeds of the issue will be substantially applied in repaying amounts drawn under the acquisition facility, thereby providing the company with more capacity under the acquisition Facility to take advantage of the company's attractive pipeline of investment opportunities,' it said.
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