All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group

Centrica shuns loan market for EDF deal


Centrica, the UK utility and owner of British Gas, will not tap the loan market to fund its £2.3bn acquisition of a 20% stake in British Energy, the nuclear power company. Instead, the cash element of the deal, totalling £1.1bn, will be financed using proceeds from Centrica’s £2.31bn rights issue completed in December. This comes despite the fact that the company turned to banks at the end of last year, seeking to raise a club loan of about £1bn to back the purchase.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree