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

12 Apr 2012

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.

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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