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International Public Partnerships to raise £75mln to fund wind farm link

The tap issue price is 152.5p, a premium to NAV said the infrastructure investor
wind farm
Dudgeon is offshore Great Yarmouth

International Public Partnerships (LON:INPP) is asking shareholders for an additional £75mln to fund its share of the electrical cable link to the Dudgeon Offshore wind farm.

The tap issue price is 152.5p, a premium to NAV said the infrastructure investor and a small discount to last night’s close of 154.6p.

International PPL's £47mln share of the Dudgeon project will push debt up to £72mln.

A further £200mln will be required during 2019 to meet its final investments in the Cadent gas distribution business together and other planned spending.

 

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