Research on Drax Group plc (DRX:LON) from Longspur Clean Energy
Correction: Newly issued €1bn senior secured notes extend the Group’s average maturity profile and allow refinancing. The company remains financially strong with cash balance of £180m at half year 2026 and a net debt to adjusted EBITDA ratio of approximately 2.5x including BSIF acquisition, versus its long-term target of around 2x.
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