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National Grid PLC
30 September 2011
National Grid RPI Linked 10 year Sterling Bond - Close of Offer Period
National Grid announces that the offer period for its RPI linked 10 year Sterling bond which began on September 13th has now closed. The final issue size is £260m.
National Grid is the first company to issue an RPI linked bond available to retail investors and listed on the LSE's Order Book for Retail Bonds ("ORB"), having previously only offered such bonds to major institutional investors. This issue also represents the largest amount raised to date in an ORB transaction.
Malcolm Cooper, Global Tax and Treasury Director at National Grid, said:
"This has clearly exceeded our expectations and we are extremely pleased about the total amount raised. This shows that there is demand for inflation linked products from a business such as National Grid".
National Grid has a history of diversifying its funding sources as a prudent way of managing risk and the success of this offering means that National Grid may consider expanding its offerings to retail investors over the coming years.
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