Business
Statement re financing arrangements
Statement re financing arrangements.
About this update from Jersey Electricity Plc Class A
[{"type":"text","content":"\n \nRNS Number : 5874I Jersey Electricity PLC 02 June 2014 \n\nJERSEY ELECTRICITY PLC\n2 June, 2014\nRefinancing of debt\nThe Company announces that longer-term financing arrangements have been put in place to replace the existing 2 year revolving credit facility which was initiated to cover the expected costs associated with a further subsea cable between Jersey and France (along with associated land cabling works and equipment installation) during the period up to commissioning. Normandie 3 will be the third interconnector to be installed between Jersey and mainland France and will become the second in active service, alongside Normandie 2. It is a shared £70m investment between Jersey Electricity plc and Guernsey Electricity Limited as part of our long-standing partnership, the Channel Islands Electricity Grid (CIEG). \nJersey Electricity has obtained 20 and 25 year financing via a private placement with Pricoa Capital Group (an affiliate of Prudential Financial, Inc.) supplemented with a 5 year revolving credit facility from The Royal Bank of Scotland International Limited. \n \nEnquiries:\nMartin Magee\nFinance Director\nJersey Electricity plc\nPO Box 45, The Powerhouse\nQueens Road, St Helier\nJersey JE4 8NY\nTel: +44 1534 505201\nemail: [email protected]\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END STRSSUSUEFLSELM\n ","length":2337,"tagName":"div"}]