£1.3bn Revolving Credit Facility Refinanced

SSE plc (“SSE”) has refinanced it’s £1.3bn Revolving Credit Facility (RCF) provided by a group of ten banks for a new 5 year period, to extend the maturity date from July 2022 to March 2024, with options to extend to March 2026.

The refinanced RCF also now incorporates an innovative feature, which will adjustment the interest rate and fees paid, depending on SSE’s performance against an Environmental, Social and Governance (ESG) score to be provided by Vigeo Eiris, an independent global provider of ESG research.

SSE’s Finance Director, Gregor Alexander, commented “I am pleased we have been able to successfully refinance our key corporate liquidity facility on improved terms and now with the ESG feature included, this facility along with €1.25bn of outstanding Green Bonds, will help SSE, as a major investor in the UK and Ireland energy infrastructure, support our recently announced 2030 Sustainable Goals.”