D Dominion Energy Inc

LONDON--Northgate PLC (NTG.LN) said Monday it has issued a 100 million Euros ($109.52 million), 2.38% seven year debt private placement to an institutional investor, which will be used to reduce the group's principal bank facility 424 million pounds ($661.58 million), from GBP499 million.

The U.K. and Spanish specialist in light commercial vehicle hire added that the principal bank facility has also been renegotiated at a lower margin and the maturity has been extended by a further two years to June 2020.

The flexibility of the borrowing terms has been improved and all of the group's financing has been moved from a secured to an unsecured basis, it said adding that the key covenants remain the same.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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