Severn Trent to Seek New Debt Amid UK Water Utility Uncertainty
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Severn Trent Plc has mandated banks for new bonds which will give an indication of investors’ appetite for UK water companies debt as Thames Water, the sector’s largest, teeters on the brink of junk.
The utility is holding fixed income investor calls alongside an update to equity holders for a possible benchmark-sized sterling-denominated 14 year sustainability bond beginning on Tuesday, according to a person familiar with the matter who asked not to be identified.