Yorkshire Water plans 15- to 25-year senior sustainability bonds

By Sarah Lizee

Olympia, Wash., April 5 – Yorkshire Water Finance plc plans to price 15- to 25-year sterling-denominated class A sustainability senior guaranteed bonds, according to a market source.

The company mandated BNP Paribas, NatWest Markets and Santander as joint bookrunners for the benchmark bonds.

The bookrunners will begin a series of fixed income investor meetings in London and Edinburgh starting Monday to introduce Yorkshire’s newly established sustainable finance framework and provide a credit update. The new issue will follow, subject to market conditions.

The Regulation S bonds will be issued under the company’s £8 billion euro medium-term note program.

Expected ratings are Baa1 from Moody’s Investors Service, A- from S&P Global Ratings and A from Fitch Ratings.

Yorkshire is a Bradford, England-based water supply and treatment utility company.

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