SW Finance I PLC (fka Southern Water Services Finance Ltd) (SWSFIN)

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SW Finance I PLC (fka Southern Water Services Finance Ltd) (SWSFIN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	SWSFIN	SW Finance I PLC (fka Southern Water Services Finance Ltd)	£825		2	USOA	May 20, 2020

Tranche #1SW Finance I PLC (fka Southern Water Services Finance Ltd)

currency

GBP

size (m)

375.000

maturity

May 28, 2028

type

Fixed

tenor

8.000

call

registration

Reg S Only

benchmark

ranking

Sr. Secured

moody's

Baa3

s&p

BBB+

fitch

BBB+

size description

re-open/tap

ipt

G+240 a

ipt-pxd

guidance

G+235

spread

235

coupon

2.375%

spread set

price

99.18000

yield

2.474%

book size (m)

510

peak book (m)

x-covered

1.36

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

510

peak book (m)

x-covered

1.36

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2SW Finance I PLC (fka Southern Water Services Finance Ltd)

currency

GBP

size (m)

450.000

maturity

May 28, 2037

type

Fixed

tenor

17.000

call

registration

Reg S Only

benchmark

ranking

Sr. Secured

moody's

Baa3

s&p

BBB+

fitch

BBB+

size description

re-open/tap

ipt

G+255 a

ipt-pxd

guidance

G+250

spread

250

coupon

3.00%

spread set

price

99.09400

yield

3.046%

book size (m)

680

peak book (m)

x-covered

1.51

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

680

peak book (m)

x-covered

1.51

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

8 yr: Book size: 510; Registration: Reg S Only; Comments: GBP375m 8yr sustainable snr secured Class A. With 17yr. Baa3/BBB+/BBB+. Lloyds/NatWest(B&D)/Santan. IPTs UKT 1.625% Oct 2028 +240 area, tbp +235, launched 375m. Books 510m pre-rec. Gilt at @ 112.568 mid, 112.53 bid. LEI: 213800BTY35K1724Z452.; 17 yr: Book size: 680; Registration: Reg S Only; Comments: GBP450m 17yr sustainable snr sec Class A. With 8yr. Baa3/BBB+/BBB+. Lloyds/NatWest(B&D)/Santan. IPTs UKT 1.75% Sep 2037 +255 area, tbp +250, launched 450m. Books 680m pre-rec. Gilt @ 119.847 mid, 119.76 bid. LEI: 213800BTY35K1724Z452.;

Deal Comments

Sustainable Bond

Guarantor(s)

Southern Water Services Ltd, SWS Holdings Ltd and SWS Group Holdings Ltd

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SW Finance I PLC (fka Southern Water Services Finance Ltd) (SWSFIN)

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