Severn Trent Utilities Finance PLC (SVTLN)

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Severn Trent Utilities Finance PLC (SVTLN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	SVTLN	Severn Trent Utilities Finance PLC	£400		1	EMEA	Nov 23, 2022

Tranche #1Severn Trent Utilities Finance PLC

currency

GBP

size (m)

400.000

maturity

Nov 30, 2034

type

Fixed

tenor

12.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

size description

re-open/tap

ipt

G+195 a

ipt-pxd

guidance

G+165 a

spread

160

coupon

4.625%

spread set

price

98.93000

yield

4.743%

book size (m)

3,250

peak book (m)

x-covered

8.13

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

3,250

peak book (m)

x-covered

8.13

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

12 yr: Book size: 3250; Registration: Reg S Only; Comments: GBP400m (upsized from GBP350m) 12yr bmk snr unsec sustainable RegS. Baa1/BBB+. Barc/BofA/CIBC/Lloyds(B&D). IPTs G+195 area vs 4.5% 9/34, guidance G+165 (+/-5 WPIR) for exp 350m, launch 400m at G+160. Final books ~3.25bn, peak 3.4bn+. UKT 4.5% 09/07/2034 / mid px 113.274 / yield 3.143% (bid 113.224). Cleanup Call: Yes. MWC: G+15% of reoffer spread. LEI: 213800KY9PT6WBH33232;

Deal Comments

Sustainable Bond

Guarantor(s)

Severn Trent Water Ltd

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