Published on 4/17/2015 in the Prospect News High Yield Daily.
New Issue: Anglian Water prices £210 million eight-year notes at par to yield 5%
By Paul A. Harris
Portland, Ore., April 17 – Anglian Water priced a £210 million issue of non-callable eight-year guaranteed secured fixed-rate notes (Ba3//BB+) at par to yield 5% on Friday, according to a market source.
The yield printed at the tight end of the 5% to 5¼% yield talk.
Barclays, BNP Paribas, HSBC Bank plc, Lloyds Bank and Royal Bank of Scotland were the joint bookrunners.
The Huntingdon, England-based water company plans to use the proceeds to help fund the tender for a portion of its 7% guaranteed secured fixed-rate notes due January 2018.
| Issuer: | Anglian Water (Osprey) Financing plc
|
| Amount: | £210 million
|
| Maturity: | April 30, 2023
|
| Securities: | Guaranteed secured fixed-rate notes
|
| Bookrunners: | Barclays, BNP Paribas, HSBC Bank plc, Lloyds Bank, Royal Bank of Scotland
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Spread: | 348 bps
|
| Call protection: | Non-callable
|
| Trade date: | April 17
|
| Settlement date: | April 30
|
| Ratings: | Moody's: Ba3
|
| Fitch: BB+
|
| Price talk: | 5% to 5¼%
|
| Marketing: | Roadshow
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
