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 Goldman Sachs 80,416.88 312 4.07%
5 Barclays 79,687.28 327 4.03%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 BNP Paribas 26,462.31 118 8.90%
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4 HSBC 16,015.57 89 5.39%
5 UniCredit 15,855.58 73 5.33%

Bookrunners of European HY Bonds

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1 Goldman Sachs 5,404.19 42 7.80%
2 BNP Paribas 4,918.81 57 7.10%
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4 JPMorgan 3,950.54 44 5.70%
5 Credit Suisse 3,757.05 40 5.42%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 20,123.74 153 10.29%
2 Goldman Sachs 15,830.49 107 8.09%
3 Credit Suisse 13,309.03 95 6.80%
4 Bank of America Merrill Lynch 13,267.41 122 6.78%
5 Citi 12,928.46 108 6.61%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 28,248.54 116 6.20%
2 BNP Paribas 26,572.93 113 5.83%
3 Barclays 25,943.52 91 5.69%
4 JPMorgan 25,259.22 83 5.54%
5 Citi 24,204.97 95 5.31%