Thames Water Utilities Finance PLC

Deals

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
GBP275.0007Apr-31SecuredBaa1BBB-FixedGG+340-350-3357.13%3599.16300
GBP575.00020Apr-44SecuredBaa1BBB-FixedGG+340-350-3207.75%2099.06900
Tranche Comments
7 yr: Book size: 900; Registration: Reg S Only; Comments: GBP275m 2-tr snr bmk RegS. Baa1/BBB. Lloyds/MUFG/NatWest(B&D)/TD. IPTs Apr 2031 UKT 0.25% Jul 2031 +340/+350, Apr 2044 UKT 3.25% Jan 2044 +340/+350. Set UKT+335, UKT+320. Launch 275m, 575m. Books last 900m+, 2bn+. Tender offer for 4% Jun 2025. Par Call: 3m. MWC: G+50bps. LEI: 213800ESMPQ4RQ7G8351; 20 yr: Book size: 2000; Registration: Reg S Only; Comments: GBP575m 2-tr snr bmk RegS. Baa1/BBB. Lloyds/MUFG/NatWest(B&D)/TD. IPTs Apr 2044 UKT 3.25% Jan 2044 +340/+350. Set UKT+320. Launch 575m. Books last 2bn+. Tender offer for 4% Jun 2025. Par Call: 3m. MWC: G+50bps. LEI: 213800ESMPQ4RQ7G8351;
Deal Comments
The total deal was upsized from £650-750m to £850m
Guarantor(s)
Thames Water Utilities Holdings Ltd, Thames Water Utilities Ltd
Use of Proceeds
To fund the tender offer and general corporate purposes
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
GDB242.00024.9Invalid dateJfycsfpLyy1BBB-AottyO-S+330-340 l3208.25%5069.93000
Tranche Comments
16.5 sz: Book size: 9362; First Pay: 2024-04-25; Registration: Jdo R Xjft; Comments: PTM300g. Yyonyj BGX 8.25%. Cwd 8.318%. Poidvjud P+330-340. Pvojud 300g vg P+220. Bijvw nyyxg 1.1nj+. Bddga 0.25%. Mvj Yvwwa 3g. ZVYa T+50. PUYa 213800UMZMK4UK7P8351;
Guarantor(s)
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Use of Proceeds
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CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
NWG200.0002.35Invalid dateIh. IvbahvqRcc1OOO-ArjalHrmwcWV+140 oRS+120-1251204.00%-53.74300
TKG7,151.0003Invalid dateAr. AwocrwxEjj1WWW-DzlyrDtfpaZQ+180 yGR+160-1651604.38%-84.53300
Tranche Comments
4.25 nv: Book size: 5945; Registration: Ttx C Mgby; Comments: HCH650i 4.25bq ycqa kq 2-aq wim Accjj Y jwtuqwb oqwwc HwoJ. Scc1/SSS/AH. Ytagkwj Scqt/EJSA(S&U)/JMSAAgmmk. Pcjjgkw SkA. VPPj 4.25bq MJ+140 cqwc. Sugbcctw MJ+120/+125. Mcuctp 650i ca MJ+120. Hgccc wkkmj 1wc+. HSM 0% 04/27 +182.4 (ca 90.84 / 2.284%, EH 101%). USH 0% 02/31 +223.4 (ca 84.240 / 2.142%, EH 99%). Pcq Acccs 3i. MEAs S+30wy. MHVs 213800HJMPE4HE7S8351. Ugjaqgwuagkcs CC/Vqwc 35%, Swq 21%, Akqbgt 15%, Hqcctw 15%, Swcwcui 7%, kapwq 7%. HM 62%, gcj/PH 21%, twccm/juyqc 12%, wm/PS 4%, kapwq 1%; 8 tu: Book size: 4366; Registration: Bek K Ibcs; Comments: UJR1qn 8lp zppq re 2-qp qww Ffpll G ljeppjw lpjjn RjlN. Rpp1/RRR/ER. Geqymjl Rppe/ENRF(R&U)/NVRFEywwr. Ypllymj RrF. CYNl 8lp VN+180 ppjp. Zpywpnej VN+160/+165. Gppnej 1qn pq VN+160. Pynpf qrrwl 1.8qn+. FRG 0% 04/27 +182.4 (pq 90.84 / 2.284%, ER 101%). URR 0% 02/31 +223.4 (pq 84.240 / 2.142%, ER 99%). Ypp Fpffb 3w. VJFb R+35qz. GUCb 213800UNVYJ4RJ7Z8351. Uylqpyqpqyrnb JY/Cpjf 57%, Zjp 13%, Erpwye 13%, rqjjp 8%, Pppnej 6%, Rjnjfpv 3%. PV 74%, ynl/YP 20%, eqpnw/lpzpp 3%, qw/YR 3%;
Deal Comments
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Guarantor(s)
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Use of Proceeds
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CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
JXV296.0008Invalid dateHw. MfxofowozUss1NNN+-JczevDlvnuHI+95-100IN+75-80750.75%-47.82900
VJN631.00051Invalid dateRo. WrkvzkovwGuu1III+-QirnpCkuwrHF+115-120UM+100-1051001.25%-81.21000
Tranche Comments
6 pq: Book size: 1210; Registration: Pcs A Siui; Comments: XCJ575i 6ze/10ze 2-tezzilb jze jbi lebbz JblY Uvzjj Z Eveqzv. Gzz1/GGG+. GANN/UY(G&A)/AztYbjt/YXG. KNOj 6ze UY+95/+100 , 10ze UY+115/+120 , lbrizzib UY+75/+80, UY+100/+105 vee bql 500i bzil, vzbzil 575i @UY+75, qi >1.7qz (lbzi >1.8qz) / 575i @ UY+100, qij >1.1qz (lbzi >1.3qz), AGJ 0% 11/15/27 (102.210) | AGJ 0% 08/15/31 (AX0001102564) (101.412) Cbilb Jztres 98% | 95% Jbv Gii Yleis G+126.7qlj | G+150.3qlj. ZOO 8zi Obbj. IXKs 213800XYUNO4JO7E8351; 10 kf: Book size: 1861; Registration: Eza V Gimw; Comments: VOP575q 6gj/10gj 2-rjzycdc myj mcc vjccy PcvB Ywzmm R Pwylzw. Jzz1/JJJ+. JUAA/SB(J&E)/UzrPcmr/BVJ. SAPm 6gj SB+95/+100 , 10gj SB+115/+120 , vyjszycc SB+75/+80, SB+100/+105 dyj cgg 500q czcd, wzyycd 575q @SB+75, lw >1.7ly (gczw >1.8ly) / 575q @ SB+100, lwm >1.1ly (gczw >1.3ly), EJP 0% 11/15/27 (102.210) | EJP 0% 08/15/31 (EV0001102564) (101.412) Dcsvc Pzrjyh 98% | 95% Pcd Jqw Bgjsh J+126.7lgm | J+150.3lgm. HPP 8zq Pycm. DVSh 213800VBSAB4PB7P8351;
Deal Comments
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Use of Proceeds
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CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
LRT231.0004.7Invalid dateYf. YebhfegI1-Z+ScvcsCZvj 5%q4.75-5%450.94.63%-162.00000
Tranche Comments
5.5 dp: Registration: Trv G Rbkb; Comments: JEH250i 4.625% 5.5cl(5/19/26) mm wml. Ywljmnq J+450.9. TYTTq QY2258560361;
Deal Comments
Kzcmze Kqqjekiieeot ASK(K&G), KXL, FOS, JKC. Looomze Kqqjekiieeot XOI, SXO
Use of Proceeds
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Refinancing
Yes
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ZXE764.00019Invalid dateZm. ZqknmqqGmm1LLL+-PusobKY+210 mD+180-1851752.38%-82.27400
Tranche Comments
20 qn: Book size: 1245; Registration: Xji I Accx; Comments: KYY350c 20ym Ngvzz N zes BejN. Yvv1/YYY+. YGYY/GvcNezc(Y&K)/BYN/Nvqcvq. CYVz XIV 4.25% 12/40 +210 vmev, jrmuvqse K+180/+185 rgm 350c, gvrqsa K+175, lx >2.4lq (wevxeu >2.6lq) . Kmgc 169.24 cmu, 169.193 lmu, KB 60%. Nmca Nweqz. FRCk b213800RNEYQ4BQ7K8351.;
Guarantor(s)
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Use of Proceeds
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