Investor relations and debt investor relations are managed by Cadent's Corporate Treasury Team. The information contained within this area is generally for institutional investors and analysts interested in Cadent.
Latest financing activity
On 12 March 2021, Cadent Finance plc issued EUR 625m (£ 536m Swapped) for 9 years under its transition bond framework. This issuance is made under our Transition Bond Framework with proceed being used to replace iron mains which significantly reduces methane leakage and is part of Cadent’s transition towards the 2050 Net Zero target.
On 11 March 2020, Cadent issued the UK’s first transition bond. This was issued under the EMTN programme at Cadent Finance plc with a coupon of 0.75% . This is a €500m bond which has been swapped to GBP with a weighted average rate of 1.81215% and matures in March 2032.
On 10 October 2019, Cadent issued a £300m bond which is due to mature in October 2035. This was issued under the EMTN at Cadent Finance plc with a coupon of 2.25%. The proceeds of this issuance have been used to part repay the £650m bond due to mature in Sept 2021.
On 11 July 2019, Cadent replaced its existing bank facilities that were due to mature in Sept and Oct 2021 with similar facilities that now mature in July 2024. Below is a summary of the elements:
Long term debt issued
Cadent issues debt under Cadent Gas Limited, Cadent Finance plc, Quadgas Finance plc and Quadgas Midco Limited. The existing debt programs are outlined below.