Yorkshire Water Services Ltd - Extension of Breaks on Inflation Linked Swaps
PR Newswire
London, March 4
Company No: 2366682
LEI 2138006E2VG89XLORJ06
Yorkshire Water Services Limited
Extension of Breaks on Inflation Linked Swaps
4 March 2021
Yorkshire Water Services Limited ("YWS") is pleased to announce today the successful extension of Mandatory Early Termination Dates ("Mandatory Breaks") on GBP 72.4 million notional of seven inflation linked swaps.
These swaps have been amended such that their Mandatory Breaks have been extended individually from February 2023 to February 2028, February 2033 or February 2040. There is an upward, permanent adjustment to the real coupons that in total will increase annual interest cost by GBP 0.88 million (to be adjusted further for future inflation) from 2023 onwards. All other material terms of these swaps remain unchanged.
These amendments complete the extension of Mandatory Breaks in February 2023 on GBP 151.5 million notional of inflation linked swaps. It maintains YWS's proactive approach in addressing mandatory breaks well in advance of due dates and with strong continued support from its relationship banks.
For further information please contact:
YORKSHIRE WATER SERVICES LIMITED
WESTERN HOUSE
HALIFAX ROAD
BRADFORD
BD6 2SZ
ATTN: David Gregg, Head of Corporate Finance
Email: debtir@keldagroup.com
