United Utilities Water starts investor calls for sustainability bonds

Chicago, Feb. 14 – United Utilities Water Finance plc started calls on Wednesday for a new offering of sustainability bonds (A3/BBB+/A-), according to a source.

Calls will continue into Thursday as the company prepares the Regulation S benchmark offer.

The tenor is still to be determined, with talk of eight to 11 years.

BNP Paribas is coordinating logistics for the investor calls.

Barclays and Deutsche Bank are working with BNP as global coordinators and active bookrunners.

Proceeds will be used for eligible projects under the issuer’s sustainable finance framework.

United Utilities provides regulated water and wastewater services in England.

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