LONDON (dpa-AFX) - John Wood Group PLC (WDGJF.PK, WG.L) has secured a 430 million pounds loan with UK Export Finance making it the first company to access the Transition Export Development Guarantee, a facility set up to support UK exporting companies with working capital to invest in low-carbon growth markets including renewables, hydrogen and decarbonisation.
Transition Export Development Guarantee, or TEDG, is a five-year term loan, effective from July 2021, from a group of six of Wood's relationship banks that is 80% guaranteed by UK Export Finance.
David Kemp, CFO, said: 'The loan will provide a source of working capital to invest in unlocking the many low-carbon growth opportunities we can see across our business.'
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