794 articles in United Kingdom
Following a ratings downgrade in April, Yorkshire Water has reduced the near-term risk in its swaps portfolio. The solution did not come cheap.
Has the UK government had second thoughts on the mega-tunnel project?
The full-year figures from the regulated UK water industry were marred by increases in bad debt provisions at the two biggest companies in the sector. Will things get worse before they get better?
Getting smart about smart water.
- The owners of a number of large privately owned UK water and sewerage companies are rushing to refinance holding company debt ahead of the general election on 7th May. In the last six weeks, the parent companies of Anglian Water, Thames Water, and Southern Water have replaced bank facilities worth £675 million with cheaper debt...
- Both Veolia and Suez Environnement have also been refinancing their debt, taking advantage of the super-low interest rates resulting from Eurozone quantitative easing. Veolia cut €18.5 million off its annual interest bill by replacing older debt with...
- Meanwhile, the owners of the Salalah power and water plant in Oman are looking to refinance $737 million of debt arranged at the height of the global financial crisis in 2009.
Holding a low-growth UK company such as Bournemouth Water never made much sense for Sembcorp. How much sense does it make for new owner Pennon?
Suez Environnement drew more than €4 billion of investor demand for its new €500 million perpetual hybrid bond callable after seven years, whilst simultaneously buying back €306 million of an older, high-coupon hybrid issue.
UK water companies have been scrambling to refinance holding company debt ahead of May’s general election. What is driving the trend?
Biwater Holdings slumped to a net loss of £6.2 million on revenues of £53.5 million (down 14.9%) in the year ended 31 March 2014, according to figures released earlier this month.
Suggestions that Ofwat is still pursuing upstream competition in the UK water sector have been met with tangible resistance. By some.