FINANCING & INVESTMENT/CLARIFICATION
- From: Vol 4, Issue 8 (August 2003)
- Category: Need to know
- Region: Unspecified
- Country: Mexico and United Kingdom
- Related Companies: NordLB, Royal Bank of Scotland and Southern Water
UK: The Royal Bank of Scotland (RBS) closed a £1.87 billion structured bond issue for Southern Water. RBS structured the transaction and was the joint arranger, lead manager and bookrunner.
The deal includes £1.705 billion of bonds issued in seven tranches by Southern Water Services (Finance) Limited and a £165 million index-linked loan from Artesian Finance II. Artesian Finance II is a funding vehicle set up by RBS and wrapped by FSA to facilitate funding UK regulated water companies. The £1.705 billion of bonds consisted of both wrapped ...
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