Bord Gáis raise €339m from US investors

Bord Gáis have announced that they have raised €339m ($450m) on the US Private Placement market.

The fundraising, which was significantly oversubscribed, attracted considerable interest from US institutional investors.

The money raised will be used to part-fund the company’s planned capital expenditure programme, including investment in power generation assets, and to refinance some existing debt.

Michael G O’Sullivan, Bord Gáis Finance Director, said: "We are pleased with the outcome and pricing of this round of fundraising. This is the first transaction executed on the US Private Placement market in 2009 for an Irish company and, given the current challenging credit market, reflects strong investor confidence in Bord Gáis’ business strategy and our ambitions for the future."