Slaughter and May advised Drax on the issue of €250 million senior secured notes

Slaughter and May advised Drax Group plc (“Drax”) on the offering (the “Offering”) by its indirect wholly-owned subsidiary, Drax Finco plc (the “Issuer”), of €250 million 2.625% Senior Secured Notes due 2025 (the “Notes”).

The gross proceeds from the offering of the Notes will be used for general corporate purposes, which may include the repayment of indebtedness, and the payment of fees and other costs related to the Offering. The Notes are governed by New York law and will be listed on the Euro MTF Market of the Luxembourg Stock Exchange.

Slaughter and May worked on the Offering as an integrated team with Cravath, Swaine & Moore and Pinsent Masons, who acted as counsel to the Issuer on matters of New York and Scots law respectively.