Thames makes up with UK bond investors
- From: Vol 9, Issue 4 (April 2008)
- Category: General
- Region: Europe
- Country:
- Related Companies: Thames Water
The downsizing of Thames Water’s securitisation deal in August 2007 marked a low point in the company’s relations with UK institutional investors. A new £400m bond has repaired the damage.
Thames Water took advantage of its new-found freedom to increase leverage by pricing a new £400 million bond at the end of March. The deal, structured as a 50-year fixed-rate issue with put and call options after ten years, is a first for the water industry, and drew over £500 million of investor demand.
The 50 PCR 10 (put/call ...
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