Yorkshire Water Finance Plc - Statement re Class B bond

Yorkshire Water Finance plc (“YWF”)

LEI: 213800O8BDOGHJMTCP32

£200m, fixed to floating rate, Class B bond, due March 2046, (ISIN: XS1381944260) (“Bond”)

YWF wishes to provide an update on the Bond and the replacement of the London Interbank Offered Rate (“LIBOR”) as an interest rate benchmark.

The Bond pays a fixed coupon of 3.75% until 22 March 2023, at which time it will become a floating rate instrument with a coupon calculated by reference to LIBOR. 

Under the existing terms of the Bond, YWF has the right to redeem the Bond on the Optional Redemption Date (being 22 March 2023) and each interest payment date thereafter.

YWF confirms that it has signed a deed poll, in favour of Deutsche Trustee Company Limited as trustee for the holders of the Bond, which is an enforceable and legally binding pledge to exercise its redemption right, in accordance with the existing terms of the Bond, at the end of the fixed rate period on the Optional Redemption Date.

YWF has been advised that this deed poll does not represent an amendment to the terms of the Bond but is a separate and additional obligation on YWF. 

Any enquiries to:

YORKSHIRE WATER FINANCE PLC

Livingstone House

Chadwick Street

Leeds

LS10 1LJ

Attention:

David Gregg, Head of Corporate Finance

Email: [e-mail]

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