Thames Water nabs £550m of ‘B’ debt in bond drought

By Michael Turner
27 Apr 2017

The UK’s Thames Water Utilities was the only point of primary action for corporate bond investors in Europe on Tuesday, as the blackout period drags the market into what some called the quietest week of the year so far.

Thames Water issued a £550m pair of six and 10 year class 'B' notes, led by BNP Paribas, HSBC, JP Morgan and MUFG. The deal was for general corporate purposes including refinancing debt.

Other than that, syndicate bankers were not able to convince borrowers to pull the trigger in ...

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