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	£350		1	EMEA	Jul 24, 2024

Tranche #1Severn Trent Utilities Finance PLC

currency

GBP

size (m)

350.000

maturity

Jul 31, 2038

type

Fixed

tenor

14.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa1

s&p

BBB+

fitch

A-

size description

re-open/tap

ipt

G+170-175

ipt-pxd

guidance

G+155 a

spread

155

coupon

5.875%

spread set

price

99.61300

yield

5.916%

book size (m)

1,500

peak book (m)

x-covered

4.29

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,500

peak book (m)

x-covered

4.29

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

14 yr: Book size: 1500; Registration: Reg S Only; Comments: GBP350m 14yr sustainable bmk snr unsec RegS. Baa1/BBB+/A-. BofA/CIBC/Lloyds(B&D)/RBC(log). IPTs UKT 3.75% Jan 2038 (mid) +170/+175, guidance UKT+155 area for 350m, launch UKT+155. Final books 1.5bn+ (peak 1.6bn). UKT 3.75% Jan 2038 (93.717 bid | 93.767 mid | 4.366 yld | 97% HR). FTT 4pm. MWC: G+25bps. LEI: 213800KY9PT6WBH33232;

Deal Comments

Sustainability Bond

Guarantor(s)

Severn Trent Water Ltd

Use of Proceeds

Refinancing

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