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International bonds: Drax Group plc, 4.25% 1may2022, GBP (XS1602280676)

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Status
Early redeemed
Amount
350,000,000 GBP
Placement
***
Early redemption
*** (-)
ACI on
Country of risk
United Kingdom
Current coupon
-
Price
-
Yield / Duration
-
Calculate in two clicks! yield, duration and other parameters
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Calculator What is a calculator?
  • Placement amount
    350,000,000 GBP
  • Outstanding amount
    350,000,000 GBP
  • Minimum Settlement Amount
    1,000 GBP
  • ISIN RegS
    XS1602280676
  • Common Code RegS
    160228067
  • CFI RegS
    DBFNDR
  • FIGI RegS
    BBG00GGTRVC2
  • SEDOL
    BYWQ8D2
  • Ticker
    DRXLN 4.25 05/01/22 REGS

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Issue information

Profile
Drax Group plc is a British electrical power generation company. The Group is made up of upstream and downstream enterprises. The principal downstream enterprises are based in the UK and include Drax Power Limited, which runs ...
Drax Group plc is a British electrical power generation company. The Group is made up of upstream and downstream enterprises. The principal downstream enterprises are based in the UK and include Drax Power Limited, which runs Europe’s biggest biomass-fuelled power station, Drax power station, near Selby in North Yorkshire – the UK’s largest decarbonisation project, as well as supplying between 7-8 per cent of the country’s electricity needs. Related businesses include Haven Power, a supplier of electricity (including sustainable biomass energy) to business, and Billington Bioenergy, a supplier of sustainable wood pellets for domestic biomass energy systems. The group’s largest upstream enterprises are Drax Biomass, which sources sustainable biomass for Drax power station and Baton Rouge Transit, which handles storage and transport of finished biomass pellets from the Port of Baton Rouge, Louisiana.
Volume
  • Placement amount
    350,000,000 GBP
  • Outstanding amount
    350,000,000 GBP
Face value
  • Minimum Settlement Amount
    1,000 GBP
  • Outstanding face value
    *** GBP
  • Increment
    *** GBP
  • Face value
    1,000 GBP
Listing
  • Listing
    ***

Cash flow parameters

  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count convention
    ***
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Maturity date
    ***
  • Early redemption date
    ***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

Early redemption terms

***

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800 000

bonds globally

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pricing sources

80 000

stocks

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Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Placement
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • The purpose of placing
    The gross proceeds from the Offering are expected to be GBP550.0 million. The company intends to use the gross proceeds of the Offering, together with drawings under the New Senior Facilities: (i) to repay in full indebtedness under the Bridge Facility; (ii) to repay in full the Existing Term Debt; (iii) to pay estimated fees and expenses of the Refinancing including prepayment fees, underwriting fees and commissions, professional fees and other transaction costs associated with the Refinancing; and (iv) for general corporate purposes.
Participants
  • Bookrunner
    ***, ***
  • Depository
    ***, ***

Conversion and exchange

  • Conversion terms
    ***

Additional information

Latest issues

Identifiers

  • ISIN RegS
    XS1602280676
  • CUSIP RegS
    ***
  • CUSIP 144A
    ***
  • Common Code RegS
    160228067
  • CFI RegS
    DBFNDR
  • FIGI RegS
    BBG00GGTRVC2
  • WKN RegS
    A19GUD
  • SEDOL
    BYWQ8D2
  • Ticker
    DRXLN 4.25 05/01/22 REGS
  • Type of security by CBR
    ***

Bond classification

  • Rank: Undefined
  • Registered
  • Coupon bonds
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • Variable rate
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Guaranteed
  • Inflation-linked principal
  • Supranational bond issues
  • Inflation-linked coupon
  • Mortgage bonds
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Redemption Linked
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Commercial Bonds
  • Subordinated
  • Sukuk
  • Trace-eligible

Restructuring

***

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