Book size: 880; Registration: Reg S Only; Comments: GBP350m 7.5yr, cpn 6.375% at 99.430, yld 6.482%. Spread: G+210. Make Whole Call at UKT + 35. LEI: 21380072JDZ74GW9ZY87;
Deal Comments
Reoffer: Long 7yr: UKT+210bp / 99.43 / 6.482%
Benchmark: Long 7yr: 0.875% UKT due 31-Jul-33 @ 78.432 / HR 108%
Final Books: Long 7yr: In excess of £880m
Launched: Long 7yr: £350m @ UKT+210bp - Final books in excess of £880m
IPTs: Long 7yr: UKT+225a
Issuer: Anglian Water (Osprey) Financing Plc
Ticker: OSPRAQ
Country: GB
Guarantor: Osprey Acquisitions Limited, Osprey Investco Limited
Issuer LEI: 21380072JDZ74GW9ZY87
Expected Issue Ratings: BBB- by Fitch
Format: Senior, Secured, RegS, Category 2, Tefra D, Bearer, NGN
Settlement Date: 18-Feb-26 (T+5)
Size: £350m
Tenor: Long 7-year (Short 1st Coupon)
Maturity Date: 18-Aug-33
Reoffer: UKT + 210bp | 6.380% s.a. | 6.482% Yield ann. | 99.430 px
Coupon: 6.375% FXD, Annual, Act/Act (ICMA)
Benchmark: 0.875% UKT due 31-Jul-33 (ISIN: GB00BM8Z2S21)
HR: 108%
Par Call: 3-month
ISIN: XS3298819973
Denoms: £100k+£1k
Optional Redemption: Make Whole Call at UKT + 35bp
Docs/Listing/Governing Law: In accordance with the Issuer’s £10bn Guaranteed Secured MTN Programme dated 09-Oct-25 / London Stock Exchange (Regulated Market) / English Law
Clearing: Euroclear / Clearstream, Luxembourg
Use of Proceeds: General Corporate Purposes
Selling restrictions: As per the Base Prospectus dated 09-Oct-25
Sole Bookrunners: HSBC (B&D)
Target Market: Manufacturer target market (EU MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPS key information document (KID) has been prepared as not available to retail in EEA or UK
Advertisement: The Offering Circular and any supplements are available on the website of the London Stock Exchange www.londonstockexchange.com The Final Terms, when published, will be available on the website of the London Stock Exchange www.londonstockexchange.com
Timing: TOE: 14.14 UKT | FTT: 14.45 UKT
Stabilisation: Applicable, stabilisation regulations apply, including FCA/ICMA