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National Grid unit to repurchase £115.8 million 5.75% instruments
By William Gullotti
Buffalo, N.Y., April 20 – National Grid Electricity Distribution (West Midlands) plc, formerly Western Power Distribution (West Midlands) plc, has agreed to buy back and subsequently cancel £115.8 million of its £800 million 5.75% instruments due April 2032, according to an announcement on Thursday.
Settlement is expected on or around April 24, after which £684.2 million of the instruments will remain outstanding.
National Grid is an electricity and gas company based in London.
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