Tag: National Wealth Fund

National Wealth Fund backs ScottishPower to boost UK grid upgrades

Stuart Mitchell

The National Wealth Fund (NWF) has announced a £600m commitment to help Iberdrola and ScottishPower upgrade the British electricity grid – supporting hundreds of jobs and helping to pave the way for a new era of clean electricity. The investment forms part of a £1.35bn financing package, led by Bank of America as Sole Debt Arranger and including Bank of America, BankInter, BNP Paribas, Caixabank, Lloyds Bank, NatWest and Banco Sabadell as lenders. NWF’s financing will support the delivery of seven of ScottishPower’s priority transmission grid upgrade projects. These will…

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Pulpex announces £62m Series D funding

Stuart Mitchell

Pulpex Limited, the sustainable packaging technology company, have recently announced a £62m Series D investment round led by the National Wealth Fund (“the NWF”) and the Scottish National Investment Bank (“the Bank”). The NWF will cornerstone the round committing £43.5m in direct equity, with a £10m co-investment from the Scottish National Investment Bank and the balance from existing investors. The fundraise will finance the construction of Pulpex’s first commercial-scale manufacturing facility near Glasgow, marking the NWF’s first investment in Scotland since its transformation. Pulpex has developed a unique, fibre-based bottle…

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National Wealth Fund, Barclays UK Corporate Bank and Lloyds Banking Group join forces to unleash £1 billion to retrofit social housing

Stuart Mitchell

The NWF has announced financial guarantees that will see Barclays UK Corporate Bank and Lloyds Banking Group deliver £1 billion of funding to accelerate the retrofit of social housing in the UK. Barclays UK Corporate Bank and Lloyds Banking Group will each deliver £500 million of lending to the market that has been enabled by financial guarantees of up to £750m provided by the NWF. The guarantees will support both shorter duration loans to be provided by Lloyds Banking Group and mid-to-long duration loans to be provided by Barclays UK…

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