Thames issues £600m bonds

Thames Water has issued a dual bond, with £300 million worth maturing in 2034 and another £300 million maturing in 2046.

The 22 year bond offers 4.375 per cent interest and the 34 year tranche has a coupon of 4.625 per cent.

The Thames issue follows an RPI-linked retail bond from Severn Trent last week. That was the first water industry bond to be opened up to private rather than institutional investors, but analysts said more companies were expected to follow suit.