Chicago, March 30 – Southern Water Services (Finance) Ltd. sold £300 million of 1.625% sub-class A14 fixed-rate sustainable bonds due March 30, 2027 (Baa3/BBB+/BBB+), according to a final term sheet.
The notes are guaranteed by Southern Water Services Ltd., SWS Holdings Ltd. and SWS Group Holdings Ltd.
The senior notes sold at 98.697.
The notes can be optionally redeemed on any interest payment date.
The Regulation S notes were managed by Banco Santander, SA, BNP Paribas and SMBC Nikko Capital Markets Ltd.
The notes will be traded on the London Stock Exchange.
Proceeds will be used to finance or refinance eligible sustainable investments, including both green investments and social investments.
The company is a subsidiary of Worthing, England-based Southern Water Services Ltd.
| Issuer: | Southern Water Services (Finance) Ltd.
|
| Guarantors: | Southern Water Services Ltd., SWS Holdings Ltd. and SWS Group Holdings Ltd.
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| Issue: | Sub-class A14 fixed-rate sustainable bonds
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| Amount: | £300 million
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| Maturity: | March 30, 2027
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| Bookrunners: | Banco Santander, SA, BNP Paribas and SMBC Nikko Capital Markets Ltd.
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| Coupon: | 1.625%
|
| Price: | 98.697
|
| Call features: | On any interest payment date
|
| Trade date: | March 26
|
| Settlement date: | March 30
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB+
|
| Fitch: BBB+
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| Distribution: | Regulation S
|
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