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Corporate Bonds

Southern Water’s £250m class B five times covered

Southern Water, the UK water company, priced the latest class ‘B’ issue from its whole business securitisation at the tight end of guidance on Monday. The UK water company sold £250m of 25 year non-call nine bonds at 265bp over Gilts, 10bp inside initial price thoughts and at the bottom of the 270bp area guidance range.

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