AA plans to raise £200m through share placing
Roadside recovery business the AA is preparing to raise £200m through a share placing, as part of a refinancing plan aimed at reducing its debt of £2.7bn.
The company will also refinance £735m of its senior debt facilities, in plans that could be announced today.
Investors who have been approached about the placing are thought to be supportive of the move given the firm’s strong performance, according to Sky News.