Liberum acts as Joint Bookrunner on TRIG’s £200m fundraise
We are pleased to announce that Liberum acted as Joint Bookrunner on a placing and retail offer to raise £200m for The Renewables Infrastructure Group (“TRIG”) through the issue of new ordinary shares at 124p. The issue was significantly oversubscribed. Investec acted as Joint Bookrunner alongside Liberum.
TRIG is a FTSE 250 listed renewable energy infrastructure investment company with a market cap of c.£2.9bn. The company seeks to provide attractive income-based returns through investment exposure to a large, highly diversified portfolio of 80 wind, solar and energy storage infrastructure projects, with an aggregate net generating capacity in excess of 2.2GW.
The net proceeds of the fundraise will be applied to repay the Company’s £500m Revolving Credit Facility which, following the completion of the acquisition of the four solar sites in Iberia announced on 6 September, is approximately £200m drawn.
Liberum was appointed as Joint Corporate Broker to TRIG in December 2015 and has helped raise £1.7bn since appointment.
Investment Banking - Chris Clarke, Darren Vickers, Owen Matthews, Nikhil Varghese, Ant Schia
Sales - Andrew Davies, Jack Kershaw, James Shields
Research - Conor Finn, Shonil Chande
Legal – Rebecca Gordon, Alice Foster
Corporate & Investor Relations – Georgina Wood
Settlements – Mark Proctor, Rob Simpson