Quadgas breaks utilities’ silence in private placements

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By Silas Brown
19 Oct 2020

Quadgas, a gas asset and infrastructure investment consortium that sits above UK utility Cadent Gas, has launched a US private placement, in the first whiff of a deal from the sector in the UK for more than six months.

According to market sources, Bank of America, MUFG, RBC Capital Markets and TD Securities are arranging the deal for Quadgas, which is rated BBB+ by S&P. There is an initial target of £250m ($327m), with tenors ranging between 10 and 20 years.

Cadent Gas is a regular issuer ...

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