Financial Other

As part of funding the acquisition of the Dudgeon OFTO transmission assets, TC Dudgeon OFTO plc issued £273 million of 3.158% fixed-rate secured bonds due 12 November 2038. Interest on the bonds, which are listed on the Irish Stock Exchange, accrues from the issue date of 13 November 2018 and is payable semi-annually, forming the senior debt component of the project’s long-term capital structure alongside subordinated shareholder loans.