TIDM60ZJ TIDMTTM

RNS Number : 3655S

Wales & West Utilities Finance PLC

03 November 2023

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AND THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

WALES & WEST UTILITIES FINANCE PLC

(incorporated with limited liability in England & Wales with registered number 6766848)

ANNOUNCEMENT OF ADDITIONAL EQUITY

3 November 2023

Wales & West Utilities Finance plc (the "Issuer") announces that: (i) West & Western Midco Finance plc (the "Midco Issuer") and Wales & West Gas Networks (Holdings) Limited ("Midco") have established a common financing platform for the issuance of debt securities and entry into banking facilities and hedging which is secured by the shares of Midco and all of the assets of the Midco Issuer and Midco including security over the shares in Wales & West Utilities Holdings Limited ("WWH") and (ii) the Midco Issuer has priced the inaugural private placement issuance with a principal amount of GBP200 million (the "Issuance"), which is expected to close on 14 November 2023.

Following the closing of the Issuance, Midco will downstream (via WWH) GBP197 million as additional equity to Wales & West Utilities Limited on or around 14 November 2023.

Investor Relations

Ian T. Weldon, Head of Treasury

Wales & West Utilities Limited

Wales & West House

Spooner Close

Celtic Springs

Coedkernew

Newport NP10 8FZ

   Email:   ian.weldon@wwutilities.co.uk

Market Abuse Regulation

This announcement is released by the Issuer and contains information in relation to the bonds issued by the Issuer that qualified as inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 ("MAR") and MAR as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 ("EUWA") ("UK MAR"), encompassing information relating to the bonds issued by the Issuer. For the purposes of MAR, UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 (the "MAR Implementing Regulation") and the MAR Implementing Regulation as it forms part of domestic law of the United Kingdom by virtue of the EUWA, this announcement is made by Neil Henson, a Director of the Issuer.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOEBXLFBXFLEFBL

(END) Dow Jones Newswires

November 03, 2023 06:54 ET (10:54 GMT)

Wales&west 35 (LSE:60ZJ)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Wales&west 35 Charts.
Wales&west 35 (LSE:60ZJ)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Wales&west 35 Charts.