Glas Cymru and its financial advisers recently unveiled the GBP2 billion structured financing that is designed to ensure the reliable provision of water and sewerage services to most of Wales for the forseeable future.

The structure, devised by Schroder Salomon Smith Barney and Royal Bank of Scotland, will see Welsh Water issue GBP2 billion of bonds, backed by the GBP435 million of revenues the company collects each year from domestic (70%) and business (30%) customers.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.