RNS Number:8266K
Bristol Water PLC
07 May 2003

FINANCING FACILITIES COMPLETED



Bristol Water plc is pleased to announce that it has now completed its financing
facilities explained in its announcement dated 14th April 2003.



In total,  #45m has been raised of which #20m has been used to repay existing
bank debt.  #15m was raised using index linked bonds under the existing Artesian
Finance plc facilities and #30m using fixed interest bonds issued through
Artesian Finance II plc, both monoline wrapped bond programmes arranged by the
Royal Bank of Scotland.  The facilities, which provide for additional borrowing
capacity, extend to 2032 and 2033, with effective interest costs (excluding
fees) of 3.5% (index linked) and 6.0%, respectively.



Ofwat have indicated a desire to discuss possible changes to the company's
licence.  The Board will discuss these with Ofwat in due course but considers
that any change would only be appropriate if the company were planning to move
to a highly geared structure which is not its current intention.



The Board is pleased to have completed this transaction improving the maturity
profile of its debt portfolio, providing increased flexibility and enhancing
interest rate management.



The Company reports its full year results on 29 May.





Enquiries - 0117 953 6407



Alan Parsons, Chairman
Andy Nield, Finance Director






                      This information is provided by RNS
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