Electricity North West Ltd
Jul 17, 2009
Law Debenture appointed as trustee for new securitisation
ENW Finance PLC £1 billion Guaranteed MTN Programme, guaranteed by Electricity North West Ltd
ENW Capital Finance plc £1 billion Secured Multi-Source Debt Programme, guaranteed by North West Electricity Networks Ltd, NWEN Group Ltd
We have been appointed as note trustee and security trustee by Electricity North West ("ENW") and by its holding company North West Electricity Networks ("NWEN") on these new debt issues, in relation to the refinancing by NWEN of the acquisition debt incurred with its acquisition of ENW. The transaction is notable both as the first securitisation of an electricity distribution company, and the first securitisation of a holding company, and includes the establishment of two debt programmes.