TIDM62HY

RNS Number : 8785K

Mizuho International plc

02 September 2019

2(nd) September 2019

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Western Power Distribution (East Midlands)

Pre-stabilisation Period Announcement

Mizuho International plc (contact: Syndicate Desk; telephone: 020 7090 6698) hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/[1052]/2016 under the Market Abuse Regulation (EU/596/2014).

 
 The securities:1 
 Issuer:                   Western Power Distribution (East Midlands) 
                          ------------------------------------------------------ 
 Aggregate nominal         GBP250m 
  amount: 
                          ------------------------------------------------------ 
 Description:              Senior Unsecured, RegS, GBP Bearer Notes due 
                            2031 
                          ------------------------------------------------------ 
 Offer price:              TBC 
                          ------------------------------------------------------ 
 Other offer terms:        Benchmark 4.75% 12/07/2030 
                          ------------------------------------------------------ 
 Stabilisation: 
 Stabilisation             Mizuho International plc (Stabilisation Coordinator), 
  Manager(s):               Royal Bank of Canada Capital Markets 
                            HSBC Bank plc 
                            Santander Corporate and Investment Banking 
                          ------------------------------------------------------ 
 Stabilisation             2 September 2019 
  period 
  expected to start 
  on: 
                          ------------------------------------------------------ 
 Stabilisation             2 October 2019 (30 days after the proposed issue 
  period                    date of the 
  expected to end           Securities) 
  no 
  later than: 
                          ------------------------------------------------------ 
 Existence, maximum        The Stabilisation Manager(s) may over--allot 
  size and conditions       5% of the aggregate nominal amount 
  of 
  use of over--allotment 
  facility: 
                          ------------------------------------------------------

In connection with the offer of the above securities, the Stabilisation Manager(s) may over--allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time9. Any stabilisation action or over--allotment shall be conducted in accordance with all applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom10.

In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, any EEA Member State that has implemented Directive 2003/71/EC, as amended (together with any applicable implementing measures in any Member State, the "Prospectus Directive") before the publication of a prospectus in relation to the securities which has been approved by the competent authority in that Member State in accordance with the Prospectus Directive (or which has been approved by a competent authority in another Member State and notified to the competent authority in that Member State in accordance with the Prospectus Directive), this announcement and the offer are only addressed to and directed at persons in that Member State who are qualified investors within the meaning of the Prospectus Directive (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in that Member State11.

This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

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.

END

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