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Share News for Barclays (BARC)
| Share Price: 317.00 | Bid: 316.95 | Ask: 317.10 | Change: 0.00 (0.00%) |  | ||||||
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Severn Trent launches 10-year bond
Thu, 21st Jun 2012 07:26
LONDON, June 21 (Reuters) - British water company Severn Trent on Thursday launched a 10-year
The bonds will pay interest semi-annually at a real rate of interest of 1.3 percent per annum adjusted to take account of changes in the level of the UK Retail Prices Index.
'This retail bond issue diversifies our funding sources while also seeking to meet demand from retail investors for inflation linked products,' Chief Financial Officer Mike McKeon said in a statement.
Barclays and Investec have been appointed joint lead managers of the bond issue, the company said.
($1 = 0.6354 British pounds)
(Reporting by Adveith Nair) Keywords: SEVERNTRENT BOND/
(adveith.nair@thomsonreuters.com; +44 20 7542 2384; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net; Twitter: @Adveith)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, June 21 (Reuters) - British water company Severn Trent on Thursday launched a 10-year
bond available to retail investors, to help fund its 2.5 billion pound ($3.9 billion) capital investment programme.
The bonds will pay interest semi-annually at a real rate of interest of 1.3 percent per annum adjusted to take account of changes in the level of the UK Retail Prices Index.
'This retail bond issue diversifies our funding sources while also seeking to meet demand from retail investors for inflation linked products,' Chief Financial Officer Mike McKeon said in a statement.
Barclays and Investec have been appointed joint lead managers of the bond issue, the company said.
($1 = 0.6354 British pounds)
(Reporting by Adveith Nair) Keywords: SEVERNTRENT BOND/
(adveith.nair@thomsonreuters.com; +44 20 7542 2384; Reuters Messaging: adveith.nair.thomsonreuters.com@reuters.net; Twitter: @Adveith)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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