TIDMDRX
RNS Number : 4496C
Drax Group PLC
19 October 2020
Drax Group plc
19 October 2020
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO
AUSTRALIA, CANADA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH
OFFERS OR SALES OF SECURITIES WOULD BE PROHIBITED BY APPLICABLE
LAW. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS
RELEASE.
Drax Group plc
(LSE: DRX)
Fixed income investor calls
***************
Drax Finco plc, a subsidiary of Drax Group plc, has mandated
certain banks acting as joint bookrunners to arrange a global
investor call and a series of fixed income investor calls on 19-20
October 2020.
An offering (the "Offering") of EUR250,000,000 five-year
(non-callable for two years) Senior Secured Notes (the "Notes") may
follow, subject to market conditions. If the Offering is completed,
the expected issue rating is BB+ from both S&P and Fitch.
If the Offering proceeds, we intend to use the expected gross
proceeds (i) for general corporate purposes, which may include the
repayment of indebtedness, and (ii) to pay estimated fees and
expenses of the Offering, including Initial Purchasers' fees and
commissions, professional fees and other associated transaction
costs.
There can be no assurance that the Offering will proceed or will
be completed.
Enquiries:
Drax Investor Relations: Mark Strafford
+44 (0) 7730 763 949
Drax Media: Ali Lewis
+44 (0) 7712 670 888
Website: www.drax.com Note
Cautionary Statement
This release is being issued pursuant to Rule 135c under the
U.S. Securities Act of 1933, as amended (the "Securities Act") and
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. If the Offering proceeds,
the Notes and related guarantees will be offered in a private
offering exempt from the registration requirements of the
Securities Act and will accordingly be offered only to persons
outside the United States in compliance with Regulation S under the
Securities Act. No indebtedness incurred in connection with any
other financing transactions will be registered 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.
If the Offering proceeds, the Notes are not intended to be
offered, sold or otherwise made available to and should not be
offered, sold or otherwise made available to any retail investor in
the European Economic Area (the "EEA") or in the United Kingdom
(the "UK"). For these purposes, a retail investor means a person
who is one (or more) of: (i) a retail client as defined in point
(11) of Article 4(1) of Article 4(1) of MiFID II; (ii) a customer
within the meaning of the Insurance Distribution Directive), where
that customer would not qualify as a professional client as defined
in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified
investor as defined in Regulation (EU) 2017/1129 (as amended, the
"Prospectus Regulation"). Consequently no key information document
required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs
Regulation") for offering or selling the Notes or otherwise making
them available to retail investors in the EEA or in the UK will be
prepared. Offering or selling the Notes or otherwise making them
available to any retail investor in the EEA or in the UK may be
unlawful under the PRIIPs Regulation. Any offer of Notes in any
Member State of the EEA or in the UK will be made pursuant to an
exemption under the Prospectus Regulation from the requirement to
publish a prospectus for offers of Notes.
If the Offering proceeds, the Manufacturer target market (MiFID
II product governance) will be eligible counterparties and
professional clients only (all distribution channels).
In connection with any issuance of the Notes, a stabilising
manager (or person(s) acting on behalf of such stabilising manager)
may over-allot Notes or effect transactions with a view to
supporting the market price of the Notes at a level higher than
that which might otherwise prevail. However, stabilisation may not
necessarily occur. Any stabilisation action may begin on or after
the date on which adequate public disclosure of the terms of the
offer of the Notes is made and, if begun, may be ended at any time,
but it must end no later than 30 days after the date on which the
issuer received the proceeds of the issue, or no later than 60 days
after the date of the allotment of the Notes, whichever is earlier.
Any stabilisation action or over-allotment must be conducted by the
stabilising manager (or person(s) acting on behalf of the
stabilising manager) in accordance with all applicable laws and
rules.
Forward Looking Statements
This release includes forward-looking statements within the
meaning of the securities laws of certain applicable jurisdictions.
These forward-looking statements can be identified by the use of
forward-looking terminology, including, but not limited to, terms
such as "aim", "anticipate", "assume", "believe", "continue",
"could", "estimate", "expect", "forecast", "guidance", "intend",
"may", "outlook", "plan", "predict", "project", "should", "will" or
"would" or, in each case, their negative, or other variations or
comparable terminology. These forward-looking statements include,
but are not limited to, all statements other than statements of
historical facts and include statements regarding Drax's
intentions, beliefs or current expectations concerning, among other
things, Drax's future financial conditions and performance, results
of operations and liquidity, strategy, plans, objectives,
prospects, growth, goals and targets, future developments in the
markets in which Drax participate or are seeking to participate,
and anticipated regulatory changes in the industry in which Drax
operate. By their nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors because they
relate to events and depend on circumstances that may or may not
occur in the future. Readers are cautioned that forward-looking
statements are not guarantees of future performance and are based
on numerous assumptions. Given these risks and uncertainties,
readers should not rely on forward looking statements as a
prediction of actual results.
END
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END
MSCUKRNRRKURARA
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October 19, 2020 02:10 ET (06:10 GMT)
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