2 May 2024
DRAX GROUP PLC
(LSE:
DRX)
Drax
Finco plc, a wholly owned subsidiary of Drax Group plc, has made
the below announcement on the Luxembourg Stock Exchange in respect
of Drax Finco plc's €250,000,000 2.625% Senior Secured Notes due
2025
Notice of partial
cancellation
€250,000,000 2.625% Senior
Secured Notes due 2025 ("the Notes")
ISIN
Number:
XS2247614063* Common Code: 224761406*
On 2 May 2024, Drax Group plc's
("Drax") indirect wholly owned subsidiary, Drax Finco plc (the
"Company"), a public
limited company
incorporated under the laws of England and Wales, gave
notice, in
accordance with Section
2.11 of the indenture
dated 4 November 2020, that following the results of the
tender offer announced on 25 April 2024, the Company has
repurchased and cancelled €106,180,000 (42.47%) of the aggregate
principal amount of the Notes. Following
this cancellation, the remaining aggregate principal amount of the
Notes outstanding of €143,820,000 will continue to be listed on the
Luxembourg Stock Exchange.
*These ISIN and Common Code numbers
are included solely for the convenience of the holders. Neither the
Trustee, the Company nor the Paying Agent shall be responsible for
the selection or use of any ISIN or Common Code number, nor is any
representation made as to its correctness or accuracy on any Fixed
Rate Note or as referred to in any redemption notice.
Enquiries:
Drax
Investor Relations:
Mark Strafford
mark.strafford@drax.com
+44 (0)
7730 763
949
Media:
Drax
External Communications: Andy
Low
andrew.low@drax.com
+44 (0) 7841
068 415
Website:
www.drax.com
Cautionary Statement
This
release 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.
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.
Manufacturer target market (MiFID II product governance) is
eligible
counterparties and
professional
clients only (all distribution
channels). No PRIIPs
key information
document (KID) has been prepared as the Notes are not available to retail
investors in the European Economic
Area.
END