Close of Offer Period - RPI Linked 10 Year Bond

RNS Number : 9333G

Severn Trent PLC

04 July 2012

 



Severn Trent PLC

Severn Trent RPI Linked 10 year Sterling Bond

4 July 2012

Severn Trent PLC 11 July 2012 RPI Linked 10 year Sterling Bond - Close of Offer Period

Severn Trent announces that the offer period for its RPI linked 10 year Sterling bond which began on 21 June 2012 has now closed. The final issue size is £75m, meeting our expectations of £50m to £100m.

Severn Trent Plc is the first water company to issue an RPI linked bond available to retail investors and listed on the LSE's Order Book for Retail Bonds ("ORB"), having previously only offered such bonds to major institutional investors.

Mike McKeon, Group Finance Director, said:

"Our debut retail bond has been a great success. We have achieved our objective of opening up this exciting new source of finance for Severn Trent. It demonstrates that for the right company there is keen investor interest. The success of this offering means that we may consider further offerings to retail investors in future."

Severn Trent

Mike McKeon / John Crosse                                       [phone]

Tulchan

Ed Orlebar / Anastasia Shiach / Martha Kelly            [phone]

-ENDS-

 

END

 

 

MSCSSSFLLFESEFW