Electricity North West £305m refinancing via UK/US Private Placement
Centrus provided financial advice to Electricity North West Networks covering the implementation of a hedging programme for the refinancing, changes to the whole business securitisation financing platform documentation, the implementation of back-stop banking facilities and the choice and implementation of the chosen financing solution – a £305m UK and US private placement. A total of 7 US and 4 UK institutions participated in a series of 15 year fixed rate and 20-year index-linked sterling placements with significant elements of deferred funding.
Centrus was able to add value to NWEN by supporting the company with a holistic approach to the multiple work streams and expertise across banking, debt capital markets and derivatives to ensure an efficient and rigorous process that was delivered on time.
Rob O’Malley, Head of Treasury and Investor Relations North West Electricity Networks Centrus supported the delivery of this successful refinancing project from initial planning to completion. They became a seamless part of our delivery team, and supported management by providing impartial, expert advice at the key phases of the transaction