Go with the flow: B&C helps Pennon's £490m Rights Issue

03/02/2025

We're delighted to have helped Pennon Group with its capital raise by way of a £490m, fully underwritten Rights Issue.

Net proceeds from the proposed capital raise form part of a comprehensive financing package which will put Pennon’s water businesses in a strong position to deliver on their next five-year phase. Importantly, the Rights Issue will ensure a sustainable balance sheet, supporting a step change in investment following a period of strong growth and delivery.

Our thanks to our wonderful clients at Pennon Group and to legal advisors Slaughter & May, as well as Barclays & Morgan Stanley acting as Joint Sponsors, Global Co-ordinators, Bookrunners and Underwriters.

If you'd like to find out how we can assist your most prestigious capital raisings, chat with us today: hello@blackandcallow.com

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