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Green Evaluation: Bazalgette Finance plc (Tideway), November 15, 2017

In May 2018, Bazalgette Finance plc will issue £175 million of index-linked green bonds. Out of the total amount, two tranches of £50 million will be placed with Aviva life & Pensions UK Ltd., linked to RPI and mature in 2049. The remaining £75 million will be linked to CPI, mature in 2052 and placed with a different investor. The green bonds will be issued under Bazalgette Finance plc's £10 billion multicurrency bonds program established in May 2016. The proceeds will be used by Bazalgette Tunnel Ltd. to design, build, commission, and maintain the Thames Tideway Tunnel (TTT) in London. The Green Evaluation score completed on Nov. 15, 2017 is applicable to this latest financing of £175 million of index-linked green bonds issued under the program. In our opinion, this transaction is aligned with the Green Bond Principles 2017 (GBP).


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