Yorkshire Water Finance plc
(“YWF”)
LEI: 213800O8BDOGHJMTCP32
£200m, fixed to floating rate, Class B
bond, due March 2046, (ISIN:
XS1381944260) (“Bond”)
YWF wishes to provide an update on the Bond and the replacement
of the London Interbank Offered Rate (“LIBOR”) as an
interest rate benchmark.
The Bond pays a fixed coupon of 3.75% until 22 March 2023, at which time it will become a
floating rate instrument with a coupon calculated by reference to
LIBOR.
Under the existing terms of the Bond, YWF has the right to
redeem the Bond on the Optional Redemption Date (being 22 March 2023) and each interest payment date
thereafter.
YWF confirms that it has signed a deed poll, in favour of
Deutsche Trustee Company Limited as trustee for the holders of the
Bond, which is an enforceable and legally binding pledge to
exercise its redemption right, in accordance with the existing
terms of the Bond, at the end of the fixed rate period on the
Optional Redemption Date.
YWF has been advised that this deed poll does not represent an
amendment to the terms of the Bond but is a separate and additional
obligation on YWF.
Any enquiries to:
YORKSHIRE WATER FINANCE PLC
Livingstone House
Chadwick Street
Leeds
LS10 1LJ
Attention:
David Gregg, Head of Corporate
Finance
Email: debtIR@yorkshirewater.co.uk