SW Finance I PLC (fka Southern Water Services Finance Ltd) (SWSFIN)

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SW Finance I PLC (fka Southern Water Services Finance Ltd) (SWSFIN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	UTIL	PRCD	SWSFIN	SW Finance I PLC (fka Southern Water Services Finance Ltd)	£300		2	EMEA	Oct 24, 2024

Tranche #1SW Finance I PLC (fka Southern Water Services Finance Ltd)

currency

GBP

size (m)

200.000

maturity

Oct 31, 2031

type

Fixed

tenor

7.000

call

registration

Reg S Only

benchmark

ranking

Sr. Secured

moody's

Baa3

s&p

BBB-

fitch

BBB

size description

re-open/tap

ipt

ipt-pxd

guidance

spread

coupon

7.75%

spread set

price

90.00000

yield

9.994%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2SW Finance I PLC (fka Southern Water Services Finance Ltd)

currency

GBP

size (m)

100.000

maturity

Oct 31, 2031

type

Fixed

tenor

7.000

call

registration

Reg S Only

benchmark

ranking

Sr. Secured

moody's

Baa3

s&p

BBB-

fitch

BBB

size description

re-open/tap

ipt

ipt-pxd

guidance

spread

coupon

7.75%

spread set

price

92.50000

yield

9.928%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

7 yr: First Pay: 2025-04-30; Redemption: 2029-10-31; Registration: Reg S Only; Comments: GBP200m 7yr snr RegS notes. Baa3/BBB-/BBB. NatWest sole. 200m at 90.00 / 9.994%. MWC: G+45bp. PP: Yes. Cleanup Call: Yes. Reset Date: 2029-10-31. LEI: 213800BTY35K1724Z452; 7 yr: First Pay: 2025-04-30; Redemption: 2029-10-31; Registration: Reg S Only; Comments: Priced: 10/31/2024. GBP100m 7yr snr RegS notes. Baa3/BBB-/BBB. NatWest sole. 100m at 92.50 / 9.928%. MWC: G+45bp. PP: Yes. Cleanup Call: Yes. LEI: 213800BTY35K1724Z452;

Deal Comments

Originally printed in £200m size but was increased by £100m before it settled

Guarantor(s)

Southern Water Services Ltd, SWS Holdings Ltd, SW (Finance) II Ltd, SWS Group Holdings Ltd

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SW Finance I PLC (fka Southern Water Services Finance Ltd) (SWSFIN)

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