Thames eyes sterling debt repackaging
- From: Vol 9, Issue 3 (March 2008)
- Category: General
- Region: Europe
- Country:
- Related Companies: Anglian Water, Artesian Finances, Bristol Water, Dee Valley Water, Portsmouth Water, Southern Water, Standard & Poor’s and Thames Water
The maturity of a tiny Yen bond later this month will enable Thames Water to raise its leverage by 3%. It is already eyeing a new sterling bond with an innovative structure.
The last remaining bond which lies outside of Thames Water’s recently implemented whole business securitisation is due to mature on 25 March. The repayment of this Yen 2 billion deal will act as a trigger for Thames to raise leverage at the regulated opco level by up to 3%, and the prospect of the extra leeway meant that Thames ...
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