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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5 Goldman Sachs 58,523.58 226 4.11%

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5 HSBC 11,205.29 61 5.43%

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5 Credit Suisse 3,119.95 31 5.86%

Bookrunners of Dollar Denominated HY Bonds

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4 Bank of America Merrill Lynch 10,797.43 100 6.81%
5 Barclays 10,686.37 82 6.74%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 20,417.95 85 6.50%
2 BNP Paribas 19,882.59 80 6.33%
3 Barclays 18,647.73 58 5.94%
4 Deutsche Bank 16,816.67 70 5.36%
5 Citi 16,746.96 68 5.33%