Leverage to remain low at Northumbrian
- From: Vol 12, Issue 8 (August 2011)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Barclays Capital, Cheung Kong Infrastructure, HSBC, Northumbian Water and Royal Bank of Canada
CKI’s £4.8 billion public-to-private bid for Northumbrian Water is unlikely to raise leverage at the operating company. The change of control may trigger some debt refinancing.
The Cheung Kong Infrastructureled consortium that made a £4.8 billion recommended offer for Northumbrian Water at the beginning of August will buck the recent acquisition trend in the sector and avoid a highly geared financing structure.
Whereas the last four big takeovers in the industry – Anglian, Thames, Southern, and Kelda – have all been led by infrastructure funds that have ...
Subscription required
To read this full article you must be subscribed to Global Water Intelligence.
Subscribe Now, Sign up for a Free Trial or Log In
