Jersey Electricity secures a £100m revolving facility for its investment programme

Jersey Electricity announced a refinancing package on 7 September 2026, supporting its planned £180m investment programme over five years.

Committed funding

The new £100m unsecured revolving credit facility runs for five years, with two possible one-year extensions. Pricing is SONIA plus 0.85%.

The package also amends the existing £30m US private placement.

Additional capacity has conditions

A £50m accordion could expand the revolving facility, while a separate $150m private-placement shelf is available for five years and can accommodate sterling or dollar notes with maturities of up to 30 years.

Both the accordion and shelf are uncommitted. They should not be added to the revolving facility and described as cash already available on identical terms.

What matters next

The refinancing extends funding flexibility for infrastructure investment. Actual interest costs will depend on drawings, benchmark rates and any subsequently agreed note terms.

The main checkpoints are capital expenditure delivery, operating cash generation and the amount ultimately borrowed. Announced facility capacity is different from outstanding debt or cash already spent.

Source: Company announcement, 7 September 2026.