Cadent Finance PLC (CDTFIN)

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Cadent Finance PLC (CDTFIN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	CDTFIN	Cadent Finance PLC	£315		1	EMEA	Jan 4, 2024

Tranche #1Cadent Finance PLC

currency

GBP

size (m)

315.000

maturity

Jan 11, 2036

type

Fixed

tenor

12.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

A-

size description

re-open/tap

ipt

G+190-195

ipt-pxd

guidance

G+175 a

spread

168

coupon

5.625%

spread set

price

99.52700

yield

5.602%

book size (m)

1,550

peak book (m)

x-covered

4.92

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,550

peak book (m)

x-covered

4.92

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

12 yr: Book size: 1550; Registration: Reg S Only; Comments: GBP315m 12yr green bmk snr unsec RegS. Baa1/BBB+/A-. Lloyds(B&D)/MUFG(log)/NatWest. IPTs UKT 4.25% 03/2036 +190/+195 for exp 300m, guidance UKT+175 area, launch UKT+168 for 315m. Books 1.55bn+ at guidance, pre-rec. UKT 4.25% due 7 March 2036 @ 103.145 mid, 103.095 bid (HR 89%). FTT 4:20pm. MWC: G+25bps. CoC: Restructuring Event Noteholder Put;

Deal Comments

Green Bond

Guarantor(s)

Cadent Gas Ltd

Use of Proceeds

Refinancing of projects which contribute to climate change mitigation

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