UK water utility Southern Water Ltd. is planning to sell bonds as it powers ahead with plans to stabilize its finances after securing an equity deal that helped it avoid a ratings downgrade.
The utility, which serves customers in several English counties, has mandated banks to sell a sterling bond as soon as Thursday. Earlier this month, it secured a £1.2 billion ($1.7 billion) equity package from owners led by Macquarie Asset Management.
The bond gives Southern Water some breathing room as it juggles a high debt burden with rising public pressure to fix sewage leaks that are polluting Britain’s ...
