The dark side of inflation-linked debt
- From: Vol 10, Issue 4 (April 2009)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Anglian Water, Barclays Capital, Osprey and Southern Water
Concerns over falling inflation have led to new equity injections at three privately owned UK water companies. It is the downside of having so much index-linked debt.
The dramatic fall in the retail price index over the past four months obliged shareholders in three of the UK water companies with securitisationstyle debt structures to make additional equity injections at the end of March.
Osprey Holdings, Anglian Water’s parent, put a further £90 million into the regulated water business and £25 million more into the holding company ...
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