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 47,864.00 196 4.70%
5 Deutsche Bank 38,993.78 192 3.83%

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4 Bank of America Merrill Lynch 10,069.16 30 6.23%
5 BNP Paribas 9,682.74 53 5.99%

Bookrunners of European HY Bonds

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5 Goldman Sachs 1,890.62 15 6.53%

Bookrunners of Dollar Denominated HY Bonds

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1 JPMorgan 12,395.10 95 10.16%
2 Citi 11,358.11 88 9.31%
3 Bank of America Merrill Lynch 8,530.25 71 6.99%
4 Goldman Sachs 8,483.82 60 6.95%
5 Morgan Stanley 7,524.77 55 6.17%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 11,028.16 43 5.85%
2 Citi 10,190.79 41 5.41%
3 BNP Paribas 9,564.40 53 5.08%
4 Barclays 9,097.64 39 4.83%
5 JPMorgan 8,845.38 36 4.69%