United Utilities Water sells £200m of thirteen-year notes

25 March 2009

On 18 March 2009, United Utilities Water PLC (A3, stable; A-, stable) sold £200m of thirteen-year notes via the group's medium-term note programme further enhancing the group's robust financing position.                                                                                                                                                                    

The bonds were sold to investors at a credit spread of 240bps above the risk-free rate (the yield on government bonds of equivalent maturity) in order to compensate investors for taking UUW's credit risk. The bonds will carry an annual fixed rate coupon of 5.75% and will mature on 25 March 2022.  Deutsche Bank AG managed the sale.

Technical Information:

Issue closed on 25 March 2009

ISIN: XS0419346977

Bloomberg: UU <CORP> GO