Tideway unveils new £300m green bond funding

Thames Tideway has unveiled its agreement of £300m in Green Bonds for funding of the project to completion in 2025.

Tideway’s chair, Sir Neville Simms, said the company was: “really pleased with the response from investors to this issuance.” He added: “Tideway’s green and sustainable debt issuance seeks to demonstrate to investors that in addition to our core purpose to reduce pollution in the river, we also hope to reconnect London, and Londoners, with the river and how the financing of the project supports that vision.”

The bond announcement followed S&P Global Ratings’ Green Transaction Evaluation of Tideway at 95/100 and an “advanced governance and reporting opinion.”

Construction works for the £4.2bn project started in 2016.