Greene King, the UK brewer, has raised a fresh GBP22m in order to pay down debt.

Greene King said today (21 May) that it has raised the GBP22m (US$34.3m) by inviting certain shareholders to sell shares to the group's subsidiary, Greene King Debt Acquisitions ltd.

The move comes one month after Greene King announced that it would launch a rights issue of more than GB200m in order to raise funds for acquisitions and help pay down debt.

Own-brewed beer volumes, which include Old Speckled Hen and Greene King IPA, rose by 1.8% in the 49 weeks to 12 April, compared to the same period last year, the firm said.