Greencoat UK Wind PLC’s Shares Public Offer

In UK Travers Smith, advised on the matter.

Travers Smith advised Jefferies International Limited, RBC Capital Markets with a team including Tom Coulter (Equity Capital Markets), Will Normand (Picture – Equity Capital Markets).

RBC Capital Markets and Jefferies International Limited acted as Joint Global Co-ordinators and Joint Bookrunners in a placing, open offer, intermediaries offer and offer for subscription (the “Issue”) of Ordinary Shares in Greencoat UK Wind PLC.

Investor demand for the Issue significantly exceeded the maximum size of £396 million and, as a result, a further tap issue of £54 million was offered on equivalent terms to the placing.

Admission to the Official List and to trading on the London Stock Exchange’s main market occurred at 8 a.m. on 29 November 2021. The net proceeds from the Issue will be used to fund the £250 million investment in the Burbo Bank Extension offshore wind farm and partially repay Greencoat’s Facility Agreement, thereby  facilitating the funding of an attractive pipeline of investment opportunities, including near-term committed investments in Windy Rig, Twentyshilling and Glen Kyllachy.

The Travers Smith team was led by Funds Partner, Will Normand (Picture), and Corporate Partner, Tom Coulter. The team also included Corporate Senior Counsel, Brent Sanders, and Funds Associate, Hannah MacDonald. Greencoat was advised by Cadwalader, Wickersham & Taft LLP.

Involved fees earner: Tom Coulter – Travers Smith; Hannah MacDonald – Travers Smith; Will Normand – Travers Smith; Brent Sanders – Travers Smith;

Law Firms: Travers Smith;

Clients: Jefferies International Limited; RBC Capital Markets;

Author: Giulia Di Palma