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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4 Barclays 72,018.88 306 4.60%
5 Goldman Sachs 59,875.46 292 3.83%

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4 SG Corporate & Investment Banking 15,340.46 67 6.27%
5 Bank of America Merrill Lynch 14,105.99 45 5.77%

Bookrunners of European HY Bonds

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5 Goldman Sachs 3,389.62 26 6.58%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 18,847.11 143 9.46%
2 JPMorgan 18,162.36 146 9.11%
3 Goldman Sachs 14,831.56 109 7.44%
4 Bank of America Merrill Lynch 14,255.85 117 7.15%
5 Morgan Stanley 12,912.93 86 6.48%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 16,573.16 92 5.72%
2 SG Corporate & Investment Banking 15,343.03 70 5.29%
3 Barclays 15,274.25 63 5.27%
4 JPMorgan 15,018.24 65 5.18%
5 Citi 14,456.99 66 4.99%