Pricoa Capital Group Provides Yorkshire Water with £100 Million Private Placement Financing

05.12.18

LONDON, 5 December, 2018 – Pricoa Capital Group has provided £100 million in private placement financing to Yorkshire Water, provider of essential water and wastewater services to residents and businesses in the Yorkshire and Humber region. Pricoa Capital Group is the private capital arm of PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).

Yorkshire Water sought to bring a new lender into its capital structure through a bilateral process and was introduced to Pricoa Capital Group by the debt finance specialist firm IDCM Limited.

“We welcomed the opportunity to partner with Pricoa Capital Group, an established investor in the UK water sector, to secure competitive financing that fits well with Yorkshire Water’s long-term requirements”, said Liz Barber, Director of Finance, Regulation and Markets, Yorkshire Water.

The transaction, arranged in a dual tranche of 16- and 20-year fixed-rate senior notes, will fund Yorkshire Water’s ongoing business activities and diversify its investor base.

“Investing in the UK water sector is an important component of our infrastructure financing business. We are pleased to provide Yorkshire Water with this private placement as they continue to supply efficient and sustainable water services to their millions of customers”, said Christina Kim, Vice President, Infrastructure Investing, Pricoa Capital Group.

About Pricoa Capital Group

Pricoa Capital Group has been a leading provider of private placements, mezzanine debt and equity, to companies for more than 75 years. Managing a portfolio of more than US$81 billion as of 30 September, 2018, Pricoa offers senior debt, junior capital, leveraged leases, project financing, credit tenant leases as well as asset financing to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Mexico City*, Milan, Minneapolis, Newark, New York, Paris, San Francisco and Sydney**. For more information, please visit pricoa.com.

 

* Operates through PGIM Real Estate Mexico S.C.
** Operates through PGIM (Australia) Pty Ltd.