Liberum acts as Joint Bookrunner on TRIG’s £240m fundraise
We are pleased to announce that Liberum acted as Joint Bookrunner on a placing, open offer, intermediaries offer and offer for subscription to raise £240m for The Renewables Infrastructure Group (“TRIG”) through the issue of 195m shares at 123p. Investec acted as Joint Bookrunner alongside Liberum.
TRIG is a FTSE 250 listed renewable energy infrastructure investment company with a market cap of c.£2.5bn. The company seeks to provide attractive income-based returns through investment exposure to a large, highly diversified portfolio of 77 wind, solar and energy storage infrastructure projects, with an aggregate net generating capacity in excess of 1.8GW.
The net proceeds of the fundraise will be applied to pay down the recently renewed £500m Revolving Credit Facility which has been used to fund recent acquisitions, following which TRIG will have drawings of approximately £135m.
Liberum was appointed as Joint Corporate Broker to TRIG in December 2015 and has helped raise £1.5bn since appointment.
Investment Banking - Chris Clarke, Gillian Martin, Louis Davies, Nikhil Varghese, Ant Schia
Sales - Andrew Davies, Jack Kershaw, James Shields
Research - Conor Finn
Legal – Rebecca Gordon, Alice Foster
Corporate & Investor Relations – Georgina Wood