Bazalgette Finance plc (Tideway)

Unverified
XFID Unique Identifier for Bazalgette Finance plc (Tideway): XOAR3XMUPK
Sector
Corporates
Website
www.spglobal.com
2 Frameworks
1 Second Party Opinion
1 Prospectus

Press Coverage (1)

News and trade press mentioning this issuer, tracked in the registry.

XF Company Profile

Extra-financial information found across 4 documents in the XframeworkID registry

NACE E Water Supply, Sewerage & Waste

Information extracted from documents in the registry. Values are as disclosed; this is not an assessment or rating. Last updated 2 Jun 2026.

Issuer Identity & Structure

Issuer name and country/jurisdiction
Bazalgette Finance PLC, United Kingdom Green Evaluation / Second Party Opinion 2019
Issuer sector/industry classification
Water Supply, Sewerage & Waste Green Evaluation / Second Party Opinion 2019
Core business activities and geographic focus
Design, build, commission, and maintain Thames Tideway Tunnel in London, UK. Part of London Tideway Improvements plan including construction of TTT, Lee Tunnel, and upgrade of five sewage treatment works. Green Evaluation / Second Party Opinion 2019
Issuer organizational structure
Finance vehicle issuing green notes for project subsidiary (Bazalgette Tunnel Ltd.) Green Evaluation / Second Party Opinion 2019

Green / Sustainable Finance Framework

Sustainable bond framework name and version
Green Bond Framework and £10 billion multicurrency bonds program Green Evaluation / Second Party Opinion 2019
Eligible use-of-proceeds categories
Water infrastructure (Thames Tideway Tunnel construction, Lee Tunnel, sewage treatment works upgrade) Green Evaluation / Second Party Opinion 2019
Management of proceeds approach
Proceeds used for design, build, commission, and maintenance of Thames Tideway Tunnel project components Green Evaluation / Second Party Opinion 2019

Standards & Regulatory Alignment

Alignment with ICMA Green Bond Principles
Aligned with Green Bond Principles 2018 (GBP) Green Evaluation / Second Party Opinion 2019

Issuance Details

Bond instrument type
Green Notes (fixed-rate senior secured) Green Evaluation / Second Party Opinion 2019
Bond issuance date
September 2019 Green Evaluation / Second Party Opinion 2019
Bond maturity date
September 2041 Green Evaluation / Second Party Opinion 2019
Par or principal amount of bond and currency
£75 million GBP Green Evaluation / Second Party Opinion 2019

External Review & Verification

Second Party Opinion (SPO) provider name and assessment date
S&P Global Ratings, September 11, 2019 Green Evaluation / Second Party Opinion 2019
SPO assessment scope and methodology
Evaluation of Transparency (Use of proceeds reporting, Reporting comprehensiveness), Governance (Management of proceeds, Impact assessment structure), and Mitigation (Sector Water Adaptation and Net Benefit Ranking) Green Evaluation / Second Party Opinion 2019
SPO preliminary evaluation or credibility rating
Overall Score E1/95 (Weighted aggregate of Transparency, Governance, and Mitigation) Green Evaluation / Second Party Opinion 2019

Proceeds Allocation & Reporting

Allocation of net proceeds by category
100% to Thames Tideway Tunnel and related water infrastructure improvements Green Evaluation / Second Party Opinion 2019