Best utilities borrower

United Utilities

United Utilities
The UK company’s investor education programme has paid dividends

Fallon: Important to be known
across the major bond markets

With the five-year pricing reviews limiting debt issuance in the UK utility sector for most of 2004, it was no surprise to see United Utilities come to the market in force this year. In the first six weeks of 2005, United Utilities Water, a subsidiary of United Utilities, issued two opportunistic bonds in the euro and sterling markets.

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