WPD East Midlands finds real money with £100m add-on

Western Power Distribution (East Midlands), the UK electricity distribution network, made a flying visit to the sterling bond market on Thursday to collect £100m with a tap of its January 2023 bond.

  • 13 Apr 2012

Royal Bank of Scotland arranged the tap, with Lloyds, Mizuho and RBC Capital Markets as passive bookrunners.

The borrower is rated Baa1/BBB with stable outlooks. It is one of four UK power distribution businesses owned by PPL Corp, the US energy group that also owns Louisville Gas and Electric ...

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 19,676.26 84 6.77%
2 Barclays 16,641.25 57 5.73%
3 Deutsche Bank 15,876.14 61 5.46%
4 JPMorgan 15,220.23 66 5.24%
5 Goldman Sachs 12,743.02 54 4.39%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 SG Corporate & Investment Banking 4,066.72 15 6.71%
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4 Citi 3,954.17 16 6.52%
5 Barclays 3,941.54 11 6.50%

Bookrunners of European HY Bonds

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5 BNP Paribas 336.21 2 7.01%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 3,716.46 25 11.02%
2 JPMorgan 2,986.37 22 8.86%
3 Morgan Stanley 2,561.24 18 7.60%
4 Credit Suisse 2,420.50 16 7.18%
5 Goldman Sachs 2,387.34 18 7.08%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 4,861.67 14 6.28%
2 Citi 4,852.98 13 6.27%
3 Credit Agricole CIB 4,251.08 17 5.49%
4 Deutsche Bank 4,227.09 12 5.46%
5 SG Corporate & Investment Banking 3,791.79 15 4.90%