National Grid appoints Law Debenture as trustee for new convertible bond
02 October 2015
National Grid North America Inc.
£400,000,000 0.9% Convertible Bonds due 2020
We have been appointed as trustee for this new convertible bond issued by National Grid North America Inc., a wholly owned subsidiary of National Grid plc, with whom we have a longstanding relationship as trustee.
The bonds have an innovative structure and are different from other convertible bonds in that converting bondholders will receive the cash equivalent of the underlying National Grid shares rather than the shares themselves. The bonds are listed on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange.