After fanfare, WPD returns quietly for £100m linker

Western Power Distribution, the UK electricity utility owned by Pennsylvania’s PPL Corp, raised £100m on Monday May 23, just two weeks after issuing the biggest ever triple-B rated corporate bond in sterling.

  • 24 May 2011

That issue, comprising £600m of short 12 year bonds and an £800m 21 year tranche, was priced on May 10 at 168bp and 163bp over Gilts. The shorter note was issued by WPD East Midlands and the longer one by WPD West Midlands.

The two are separate companies ...

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5 Deutsche Bank 5,631.78 26 5.07%