Bond West Power Distribution 3.875% ( XS0979476602 ) in GBP

Issuer West Power Distribution
Market price 100 %  ▲ 
Country  United Kingdom
ISIN code  XS0979476602 ( in GBP )
Interest rate 3.875% per year ( payment 1 time a year)
Maturity 17/10/2024 - Bond has expired



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Minimal amount 100 000 GBP
Total amount 400 000 000 GBP
Detailed description Western Power Distribution is a British electricity distribution network operator serving a large part of central and southern England.

A significant fixed-income instrument issued by Western Power Distribution, a prominent UK energy utility, recently concluded its lifecycle, reaching maturity and undergoing full repayment. Western Power Distribution (WPD) stands as a vital electricity distribution network operator (DNO) across the United Kingdom. As the largest of the UK's DNOs, WPD is responsible for delivering electricity to approximately 7.9 million customers through over 220,000 kilometers of overhead lines and underground cables in the Midlands, South West England, and South Wales. Its operations are characterized by a highly regulated framework, ensuring stable and predictable revenues, which historically renders its debt instruments attractive to investors seeking lower-risk profiles within the utilities sector. WPD's robust infrastructure and essential service provision underpin its creditworthiness. The specific bond under review, identified by the International Securities Identification Number (ISIN) XS0979476602, was a sterling-denominated (GBP) corporate bond. It was issued in the United Kingdom, reflecting the company's domestic operational base. This instrument carried a fixed annual interest rate of 3.875%, providing predictable income streams to bondholders. The total size of this particular issuance was substantial, amounting to £400,000,000, demonstrating the issuer's significant capital raising activities. For investors, the minimum purchase size was set at £100,000, indicating its targeting towards institutional investors or high-net-worth individuals. A critical characteristic of this bond was its defined maturity date of October 17, 2024. As of this date, the bond reached its full term and has been successfully redeemed at its par value, recorded as 100% of its nominal price on the market at the time of repayment. This confirms the principal was returned in full to the bondholders as per the original terms. The successful and timely repayment of this obligation underscores Western Power Distribution's strong financial management and commitment to meeting its debt obligations. Such a development reinforces investor confidence in the stability and reliability of regulated utility sector debt, particularly from well-established entities operating within robust regulatory environments like the UK.