By Wendy Van Sickle
Columbus, Ohio, April 12 – Yorkshire Water Finance plc priced £350 million of 22-year 2.75% class A sustainability senior guaranteed bonds (Baa1/A-/A) at 97.912, according to a notice.
The Regulation S notes priced at a reoffer price of Mid Gilts plus 125 basis points for a yield of 2.859%.
BNP Paribas, NatWest Markets and Santander were the joint bookrunners.
The bookrunners held a series of fixed-income investor meetings in London and Edinburgh this week to introduce Yorkshire’s newly established sustainable finance framework and provide a credit update.
The bonds will be issued under the company’s £8 billion euro medium-term note program.
Yorkshire is a Bradford, England-based water supply and treatment utility company.
| Issuer: | Yorkshire Water Finance plc
|
| Issue: | Class A senior secured guaranteed sustainability bonds
|
| Amount: | £350 million
|
| Maturity: | April 18, 2041
|
| Bookrunners: | BNP Paribas, NatWest Markets and Santander
|
| Coupon: | 2.75%
|
| Price: | 97.912
|
| Yield: | 2.859%
|
| Spread: | Mid Gilts plus 125 bps
|
| Pricing date: | April 12
|
| Settlement date: | April 18
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | Regulation S
|
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