BOND – THAMES BOND
- From: Vol 8, Issue 9 (September 2007)
- Category: Need to know
- Region: Europe
- Country: United Kingdom
- Related Companies: Anglian Water, Severn Trent and Thames Water
* The bulk of the activity on the capital markets this month was again focused on the UK, though the Dubai Electricity and Water Authority (DEWA) broke new ground when it raised $1 billion by securitising future utility bills (see story p26).
Thames Water’s efforts at restructuring its balance sheet were less successful, after investors only subscribed for £900 million of the originally targeted £1.2 billion of index-linked bonds which were on offer (see story pp 10-11). The lack of investor interest appeared to be credit-specific, however, as other UK water companies continued to push the envelope in terms of ...
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