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	Mar 28, 2023

Tranche #1Severn Trent Utilities Finance PLC

currency

GBP

size (m)

400.000

maturity

Apr 4, 2036

type

Fixed

tenor

13.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

size description

re-open/tap

ipt

G+200 a

ipt-pxd

guidance

G+175-180

spread

175

coupon

5.25%

spread set

price

99.04400

yield

5.353%

book size (m)

1,900

peak book (m)

x-covered

4.75

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,900

peak book (m)

x-covered

4.75

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

13 yr: Book size: 1900; Registration: Reg S Only; Comments: GBP400m 13yr sustainability bmk snr unsec RegS. Baa1/BBB+/NR. Scotia/Santan/MUFG/NatWest(B&D). IPTs UKT 4.25% 03/36 (mid) +200 area, guidance UKT +175/+180 WPIR for 400m, launch UKT +175. Books 1.9bn+, tight end of guidance, pre-rec. UKT 4.250% due 07 March 2036 @ 106.647 mid, 106.587 bid, HR 86%. LEI: 213800KY9PT6WBH33232. MWC: G+30;

Deal Comments

Sustainability Bond

Guarantor(s)

Severn Trent Water Ltd

Use of Proceeds

Refinancing

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