National Grid Gas PLC Expected Additional Bondholder Undertaking (7335N)
24 Janeiro 2023 - 1:16PM
UK Regulatory
TIDM82HZ
RNS Number : 7335N
National Grid Gas PLC
24 January 2023
National Grid Gas PLC
24 January 2023
24 January 2023
National Grid Gas Expected Issuance of Additional Bondholder
Undertaking
At or around the time of closing of the sale by National Grid
plc of a 60% equity interest in National Grid Gas plc (the 'Issuer'
or 'NGG') to a consortium comprising Macquarie Asset Management and
British Columbia Investment Management Corporation, the Issuer
expects to add a lock-up undertaking for the benefit of each
bondholder. This undertaking would restrict the Issuer from making
certain distributions in the event that the ratio of net debt
(adjusted for certain regulatory and working capital items) to
regulatory asset value were to exceed a pre-determined percentage
value, expected to be set at 72.5%.
Enquiries and contacts
Investors and Analyst:
Andy Mead (Treasury) +44 (0) 7752 890 787
Angela Broad +44 (0) 7825 351 918
Media:
Danielle Dominey-Kent +44 (0) 7977 054 575
About National Grid Gas
NGG owns and operates the regulated gas National Transmission
System ('NTS') in Great Britain, and also owns a regulated gas
metering business.
As both the transmission owner and system operator, NGG owns,
builds and operates the high-pressure NTS with day-to-day
responsibility for balancing supply and demand in real time and
facilitates the connection of assets to the transmission system.
NGG transmission network comprises approximately 7,630 kilometres
of high-pressure pipe and 23 compressor stations connecting to 8
distribution networks and other third-party independent
systems.
NGG also owns and operates an independent metering business, the
largest owner of traditional gas meters in the UK with
approximately 7.6 million domestic and commercial meters as of
March 2022. The business' activities broadly cover: asset
procurement and logistics management; meter installation,
maintenance, exchange and removal; and customer service
provision.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAKFLAFDDEFA
(END) Dow Jones Newswires
January 24, 2023 11:16 ET (16:16 GMT)
Nat.gas. T36 (LSE:82HZ)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Nat.gas. T36 (LSE:82HZ)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
