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Electricity North West to sell two stg bonds -IFR

Fri Jul 10, 2009 4:04am EDT

LONDON, July 10 (Reuters) - Electricity North West [NRWETY.UL] is planning to sell two benchmark sterling bonds, IFR reported on Friday, following recent meetings with investors.

ENW Capital Finance, guaranteed by parent company North West Electricity Networks, plans to sell a sterling bond maturing June 2015, with guidance set at gilts plus around 375 basis points, said IFR Markets, a Thomson Reuters online news and market analysis service.

ENW Finance plc will issue a sterling bond maturing July 2021, guaranteed by Electricity North West, with guidance set at gilts plus around 240 basis points area, IFR said.

HSBC is sole bookrunner for both bonds, while Barclays Capital and Royal Bank of Scotland are joint leads, said IFR. (Reporting by Natalie Harrison; Editing by Dan Lalor)



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