Cadent Overview
£ millions
200
0
Cadent has diversified its sources of funding
across the major debt markets
1800
1600
■Cadent Bank Debt
■Midco Bank Debt
Cadent EIB
Midco PP
Cadent USPP
■Midco USPP
■Cadent MTN
Midco MTN
■Cadent MTN PP
Cadent CPI Swaps
1400
1200
1000
800
600
400
•
Opco and Midco have a diversified investor base - with debt issued in GBP,
USD, EUR and JPY (all currency swapped to GBP).
Majority of debt issued in fixed (c. 63%) and index-linked (c. 35%) formats
£1.2bn of existing debt to refinance by 2024
■Fixed Rate Debt
•
Used the Transition Bond Framework to issue c. €1.1bn in 2020 and 2021.
Sustainable debt markets continue to be a focus of the debt mix.
■Index Linked Debt (after swaps)
■Floating Rate Debt
18
2043-49View entire presentation