Severn Trent Pound Bond Passes Demand Test for Water Firms’ Debt
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British water utility Severn Trent Plc has pulled in strong demand for a pound bond sale in a boost for the beleaguered UK water sector.
The utility has pulled in bids of £1.6 billion ($2.1 billion), more than 4.5 times the size of the £350 million offering of 14-year sustainability notes, according to a person with knowledge of the sale, who asked not to be identified. The deal is set to price later on Wednesday.