JLEN Raising $70 Million to Buy Clean-Power Plants, Repay Debt

(Bloomberg) — John Laing Environmental Assets Group Ltd.,
a U.K. infrastructure investor, plans to raise 45 million pounds
($70 million) with an issue of new shares to repay debt and buy
low-carbon power projects.

“The company is now well placed for the next phase of
growth that this equity raising will allow us to achieve,”
Chairman Richard Morse said in an e-mailed statement Wednesday.

The company has paid dividends of 6 pence a share, as
planned at the time of its initial public offering, he said.

Its portfolio includes onshore wind, solar, water and waste
management facilities in the U.K. JLEN bought three solar plants
for 42.5 million pounds in April after borrowing 50 million
pounds from HSBC Holdings Plc and NIBC Bank NV last year.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tony Barrett, Dylan Griffiths

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us