REG - Wales & West Utl Fin Wales & West Utilit. - Issue of Equity

Befesa SAAnnouncement

03/11/2023 12:00

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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 £200
million (the "Issuance"), which is expected to close on 14 November 2023.

Following the closing of the Issuance, Midco will downstream (via WWH) £197
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.

 

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