We are pleased to announce that Liberum acted as Joint Bookrunner on a Placing, Open Offer, Offer for Subscription and Intermediaries Offer to raise £302m for The Renewable Infrastructure Group (“TRIG”) through the issue of 265m shares at 114p. The issue was 3x oversubscribed relative to the target raise of £171m. Canaccord Genuity acted as Joint Bookrunner alongside Liberum.
The net proceeds of the issue will be applied torepay amounts drawn under TRIG’s revolving acquisition facility and applied towards its pipeline of investment opportunities.
TRIG is a FTSE 250 listed leading renewable energy infrastructure investment company with a market cap of £1.7bn. The company seeks to provide shareholders with an attractive long-term, income-based return with a positive correlation to inflation by focusing on strong cash generation across a diversified portfolio of predominantly operating projects.
TRIG is invested in a portfolio of 64 wind, solar and battery storage projects in the UK, France, the Republic of Ireland and Sweden, with an aggregate net generating capacity in excess of 1,363MW.
Liberum was appointed as Joint Corporate Broker to TRIG in December 2015 and has helped raise over £700m since appointment.