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SSE raises $700m in placing
Utility group Scottish & Southern Energy (SSE) yesterday completed a $700m (£446m) fundraising drive, selling senior notes to 22 American investors in a private placing. The FTSE 100 firm said the funding deal as an all-in cost of around 4.25 per cent, when converted to sterling, and has a weighted average maturity of 10.3 years. SSE plans to use the cash to refinance short-term debt and fund its capital plans.