Linklaters, working closely with its alliance partner Allens, has advised Anglian Water on a A$350m five-year Kangaroo bond, its debut issuance in the Australian market. Anglian Water is the first UK water company to access the Australian public bond market, and the eighth global corporate bor-rower to debut in the kangaroo market in 2026, which represents a record year for global compa-nies issuing Kangaroo bonds.
The transaction is part of Anglian Water´s long-term diversified funding strategy. Across the AMP8 programme in 2025-30, Anglian Water is delivering its largest-ever investment programme with around £11bn of investment planned.
Fraser Campbell, Group Director of Treasury, Corporate Finance and Investor Relations at Anglian Water commented:
“This transaction represents an important step in the continued diversification of our funding pro-gramme. The strong level of investor interest and support we received demonstrates confidence in Anglian Water’s long-term strategy and investment programme. We are pleased to have success-fully established a presence in the Australian public bond market and look forward to building rela-tionships with investors in the region. We would like to thank Linklaters and all our advisers for their support and expertise in helping us successfully deliver this landmark transaction.”
Reza Taylor, relationship partner for Anglian Water, commented:
“It was fantastic to advise our long-standing client Anglian Water on their bond debut in Australia. We anticipate more European issuers accessing the Kangaroo bond market, to help them diversi-fy their sources of funding in addition to e.g. sterling public markets, euro issuance, U.S. and Eu-ropean private placements and Maple bonds. The deal was also raised by panellists at this week’s Private Placement Industry Forum – Europe, reflecting its market impact.”
James Darcy, partner at Allens, commented:
“The Australian market continues to play an important role for international issuers looking to diver-sify funding sources and build long-term relationships with institutional investors. As the first UK water company to access the Australian public bond market, Anglian Water’s debut demonstrates the depth of investor demand for high-quality global credits and the growing importance of the Kangaroo market as part of international funding programmes.”
Reza Taylor led the Linklaters team advising Anglian Water, and was supported by Shamin Choudhury, Justyna Todd-Frankowska and Charlie Richards. James Darcy led the Allens team advising Anglian Water and was supported by George Hunt, Jim Chan and Angeline Sun.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
