The Renewables Infrastructure Group (TRIG) is planning to issue new ordinary shares at a price of £1.24 ($1.71) each to repay amounts drawn under its revolving credit facility and near-term funding requirements.
The RCF is currently £141 million ($194 million) drawn, following investments made earlier in the year.
TRIG is also considering additional attractive investment opportunities, and the company is at an advanced stage of negotiations to acquire a portfolio of solar photovoltaic assets located on the Iberian Peninsula.
TRIG said the issuance price represents a 3.6 percent discount to the mid-market closing share price of £1.286 ($1.77) per share on Aug. 27 and an 8.5 percent premium to the last reported NAV of £1.143 ($1.57) per share, as of June 30.
