Southern Water arranges loan alongside HY bond
Southern Water (Greensands) has arranged a club deal of at least £225m as part of a £450m refinancing of the holding company’s debt.
Yesterday, the borrower launched £250m of eight year senior secured bonds, expected to be rated BB-/B+. The loan is split into a revolving credit line of £25m and a term loan of £200m, although these amounts may change depending on the success of the public issue. A number
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