Network Rail Prices Tap of Three Inflation-Linked Bonds
22 February 2013 - 2:03AM
Dow Jones News
By Ben Edwards
Network Rail Infrastructure Finance PLC, the U.K. authority
responsible for the country's railway network, Thursday increased
the size of three of its outstanding index-linked bonds, according
to one of the banks running the deal.
Bank of America Merrill Lynch, Deutsche Bank AG and HSBC
Holdings PLC are lead managers of the tap, which has the following
terms:
2027 Bond:
Amount: GBP420 million
Maturity: Nov. 22, 2027
Coupon: 1.75%
Reoffer Price: 128.513
Spread: 35 basis points over the 1.25% Nov. 2027 index-linked gilt
2037 Bond:
Amount: GBP195 million
Maturity: Nov. 22, 2037
Coupon: 1.375%
Reoffer Price: 127.482
Spread: 35 basis points over the 1.125% Nov. 2037 index-linked gilt
2047 Bond:
Amount: GBP135 million
Maturity: Nov. 22, 2047
Coupon: 1.125%
Reoffer Price: 124.953
Spread: 35 basis points over the 0.75% Nov. 2047 index-linked gilt
Common terms:
Guarantor: United Kingdom government
Debt Ratings: Aaa (Moody's)
AAA (Standard & Poor's)
AAA (Fitch)
Denominations: GBP1,000; GBP50,000
Write to Ben Edwards at ben.edwards@dowjones.com
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