Severn Trent to sell PPs after Ofwat decision
Severn Trent, one of the UK’s three listed water companies, is looking to sell US private placements via its holding company, according to market sources. This is the first PP transaction from a UK water company since regulator Ofwat set out a new price review for the sector in December.
Lloyds has been hired to arrange the transaction and held a roadshow in London on Tuesday."Severn Trent is the best holdco out there," said a banker away from the deal, referencing the fact that its holding company is rated investment grade by Moody's and Standard & Poor's, ...
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