Ofwat keeps close eye on linkers
- From: Vol 8, Issue 8 (August 2007)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Pennon, RWE and Thames Water
The predominance of index-linked fundraising among UK water firms is likely to affect the way Ofwat tackles the next pricing review.
The industry regulator Ofwat is likely to make some adjustment in the next pricing review period for the increasing trend among UK water companies to raise index-linked debt to finance their investment programmes.
The sector issued more than £3 billion of such bonds in 2006, with the only substantial fixed-rate issuance being the three bonds totalling £1.05 billion that ...
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