Linklaters advises Anglian Water on debut issuance of Sustainability-Linked Bonds

Linklaters has advised Anglian Water on its £300m issuance of Sustainability-Linked Bonds. The transaction marks a significant commitment toward carbon neutrality for Anglian Water and includes KPIs linked to reductions in operational and capital carbon for Anglian Water’s investment delivery programme over the next 5 years.

The transaction was well-received by the market, with the orderbook being more than five times oversubscribed, demonstrating the ever increasing investor demand for ESG investments. 

The transaction was carried out as part of a broader capital structure exercise including the implementation of an investment grade multi-source MidCo common terms financing platform. The proceeds of the bonds will be used to reduce borrowing for Anglian Water’s operating company.

The transaction was led by Reza Taylor, partner, supported by James McGivern, managing associate.