United Utilities Water Finance PLC (UU)

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United Utilities Water Finance PLC (UU)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	UU	United Utilities Water Finance PLC	£350		1	EMEA	May 20, 2024

Tranche #1United Utilities Water Finance PLC

currency

GBP

size (m)

350.000

maturity

May 28, 2051

type

Fixed

tenor

27.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

s&p

BBB+

fitch

A-

size description

re-open/tap

ipt

G+125-130

ipt-pxd

guidance

G+115 a

spread

112

coupon

5.75%

spread set

price

99.55100

yield

5.702%

book size (m)

660

peak book (m)

x-covered

1.89

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

660

peak book (m)

x-covered

1.89

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

27 yr: Book size: 660; Registration: Reg S Only; Comments: GBP350m 27yr sustainability bmk snr unsec RegS. A3/BBB+/A-. BofA/NatWest/RBC(B&D)/TD. IPTs UKT 1.25% Jul 2051 (mid) +125/+130, guidance UKT+115 area (+/-3 WPIR) for exp 300m, launch 350m at UKT+112. Final books 660m+ (peak 740m+). HR 141% vs UKT 1.25% 2051, NIC 7bp. Par Call: 3m;

Deal Comments

Sustainability Notes

Use of Proceeds

Will be used for Eligible Projects

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