Thames Water is the London water Utility.
www.thameswater.co.uk
It is owned by a group of investors:-
“Ontario Municipal Employees Retirement System (“OMERS”), one of Canada’s largest pension plans, and Wren House, the global direct infrastructure investment arm of the Kuwait Investment Authority, acquired the 26.3% managed stake from Macquire an Australian bank. OMERS has since agreed to increase its investment by a further 5.530%. When our recent sales complete towards the end of 2017, Thames Water will be jointly owned by 14 institutional investors – made up mostly of pension funds and sovereign wealth funds. The three largest
investors will represent pension funds – one based in Canada and two in the UK. All of our investors take a long-term view of the company’s infrastructure, its customers and the natural environment”
It carries debt to fund its business:-
a total of debt of £10,749.4 Million. That is £10.749 Billion
Book Value Bonds including accretion Class A | 7,101.5 |
Book Value Bonds including accretion Class B | 850.0 |
Total Book Value Bonds including accretion | 7,951.5 |
Class A USPP Notes | 479.1 |
Class B USPP Notes | 119.8 |
Class A RPI linked loans including accretion of £134.4m | 1,264.4 |
Accretion on Index-linked Swaps | 223.3 |
Class A Floating Rate Loans | 492.0 |
Class A Cross-currency swaps | (78.9) |
Class B Cross-currency swaps | (23.2) |
Class B Loans | 179.0 |
Less TWUL Cash Investments | (57.5) |
TWUL Net Debt as per Compliance Certificate | 10,549.5 |
Fees and Discounts | (75.2) |
Intercompany Loans* | 300.0 |
Derivative financial liabilities | (208.4) |
Interest payable on amounts owed to group undertakings | 179.2 |
Interest payable on secured bank loans | 4.3 |
TWUL Net Debt as per accounts at 31 March 2017 | 10,749.4 |
Issuer | Currency | Face Value
(currency m) |
Coupon % | Maturity Date | Class | Description | Face Value and accretion at 31 Mar 17 (£m) | |
TWUCF | GBP | 550.0 | 5.375% | 21/07/2017* | B | Fixed Rate Bond | 550.0 | |
TWUF | GBP | 200.0 | 5.050% | 30/06/2020 | A | Fixed Rate Bond | 200.0 | |
TWUF | GBP | 225.0 | 6.590% | 20/04/2021 | A | Fixed Rate Bond | 225.0 | |
TWUF | GBP | 175.0 | 3.375% | 21/07/2021 | A | RPI Linked Bond | 264.3 | |
TWUCF | EUR | 113.0 | 2.300% | 18/07/2022 | A | CPI Linked Bond | 100.6 | |
TWUCF | GBP | 300.0 | 5.750% | 13/09/2030 | B | Fixed Rate Bond | 300.0 | |
TWUCF | GBP | 500.0 | 4.000% | 19/06/2025 | A | Fixed Rate Bond | 500.0 | |
TWUCF | GBP | 45.0 | 0.721% | 21/12/2027 | A | RPI Linked Bond | 46.0 | |
TWUCF | GBP | 300.0 | 3.5% | 25/02/2028 | A | Fixed Rate Bond | 300.0 | |
TWUF | GBP | 330.0 | 6.750% | 16/11/2028 | A | Fixed Rate Bond | 330.0 | |
TWUF | GBP | 200.0 | 6.500% | 09/02/2032 | A | Fixed Rate Bond | 200.0 | |
TWUCF | GBP | 300.0 | 4.375% | 03/07/2034 | A | Fixed Rate Bond | 300.0 | |
TWUCF | GBP | 40.0 | 0.75% | 18/12/2034 | A | RPI Linked Bond | 40.9 | |
TWUF | GBP | 600.0 | 5.125% | 28/09/2037 | A | Fixed Rate Bond | 600.0 | |
TWUCF | JPY | 20,000.0 | 3.280% | 20/08/2038 | A | Fixed Rate Bond | 143.3 | |
TWUCF | GBP | 50.0 | 3.853% | 15/12/2040 | A | LPI Linked Bond | 60.9 | |
TWUCF | GBP | 500.0 | 5.500% | 11/02/2041 | A | Fixed Rate Bond | 500.0 | |
TWUCF | GBP | 50.0 | 1.980% | 28/08/2042 | A | RPI Linked Bond | 64.4 | |
TWUCF | GBP | 55.0 | 2.091% | 06/10/2042 | A | RPI Linked Bond | 68.4 | |
TWUCF | GBP | 40.0 | 1.974% | 12/10/2045 | A | RPI Linked Bond | 45.7 | |
TWUCF | GBP | 300.0 | 4.625% | 04/06/2046 | A | Fixed Rate Bond | 300.0 | |
TWUCF | GBP | 100.0 | 1.846% | 28/08/2047 | A | RPI Linked Bond | 128.9 | |
TWUCF | GBP | 200.0 | 1.819% | 28/08/2049 | A | RPI Linked Bond | 257.8 | |
TWUF | GBP | 300.0 | 1.680% | 11/07/2053 | A | RPI Linked Bond | 408.2 | |
TWUF | GBP | 300.0 | 1.681% | 11/07/2055 | A | RPI Linked Bond | 408.2 | |
TWUCF | GBP | 200.0 | 1.771% | 28/08/2057 | A | RPI Linked Bond | 257.8 | |
TWUCF | GBP | 400.0 | 7.738% | 09/04/2058 | A | Fixed Rate Bond | 400.0 | |
TWUCF | GBP | 350.0 | 1.760% | 28/08/2062 | A | RPI Linked Bond | 451.1 | |
TWUCF | GBP | 250.0 | 1.875% | 24/01/2024 | A | Fixed Rate Bond | 250.0 | |
TWUCF | GBP | 250.0 | 2.625% | 24/01/2032 | A | Fixed Rate Bond | 250.0 | |
Total | 7,951.5
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