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Thames Water sees £1.8bn of demand for new sub bond
Thames Water visited the subordinated bond market this afternoon for the second time in under two months, raising £300 million of 20-year non-call 12 Class B notes, complementing the £550 million shorter-dated issue which priced in mid-July.
The new issue drew £1.8 billion of investor interest at the pricing level of 250 basis points over the 4% 2022 Gilt ...
Posco/ACC win scheme to refill Abu Dhabi’s aquifers
The EPC contract for a groundbreaking project in Abu Dhabi to replenish desert aquifers has been awarded to a consortium including Posco and the Arabian Construction Company.
The scheme will inject 7 MIGD (31,815m3/d) of water into the Liwa aquifer, with the capacity to supply Abu Dhabi city and the surrounding area with up to 40 MIGD (181 ...
Severn Trent marks first victory in Irish DBO market
Severn Trent Services has secured its first design-build-operate contract in Ireland, and expects to ink key documents in the coming weeks for a €25 million 20-year deal to construct and operate a wastewater treatment plant in Letterkenny in County Donegal.
STS won the contract in joint venture with County Cork-based Response Group, and the victory comes just months after the ...
Layne beats market consensus with strong Q2 numbers
Layne Christensen shares opened nearly 4% up after the company released better than expected second-quarter results this morning, though the share price lost ground as the day progressed. The Q2 EPS number came in at $0.33 – comfortably above the market consensus – on net income of $6.5 million, against a loss of $8.6 million in Q2 last year ...
Review favours Western Australian govt’s desal plan
An independent review conducted by KPMG and Worley Parsons has found that the Western Australian Department of Water’s proposal for a phased desalination facility is the most effective option for treating saline water flows in the Collie River.
The salinity of the Wellington Reservoir – caused by deforestation along the Collie River – has already been reduced from 1,300mg/l ...
Gray review to act as 20-year fitness test for Ofwat
The UK government this morning launched a review of water industry regulator Ofwat to assess whether it is continuing to deliver value for money.
Defra has appointed David Gray – who recently led the Transport Department’s review of regulated airports – to head up the exercise.
The review comes just months before the current terms of Ofwat chairman Philip Fletcher and ...
