Southern Water

Rating: A3/A-

Amount: £300m

Maturity: 31 March 2019

Issue/re-offer price: 99.428

Coupon: 6.125%

Spread at re-offer: 265bp over the 4.5% March 2019 UK Gilt

Launched: Monday 23 February

Payment date: 5 March

Joint leads:HSBC, Royal Bank of Scotland

Bookrunners’ comment:

This is the issuer’s first bond since July 2007 and is only its second unwrapped fixed ...