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Green Evaluation: Bazalgette Finance PLC (Tideway) £75 Million Green Notes

In September 2019, Bazalgette Tunnel Ltd. issued £75 million of fixed-rate senior secured green notes due September 2041. We expect Bazalgette Tunnel Ltd. will use the proceeds to design, build, commission, and maintain the Thames Tideway Tunnel (TTT) in London. In our opinion, this transaction is aligned with the Green Bond Principles 2018 (GBP). The green notes were issued outside Bazalgette Finance PLC’s £10 billion multicurrency bonds program established in May 2016.


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