Barclays Capital and Dresdner Kleinwort Wasserstein (DrKW) have capitalised on their close ties with Wessex Water to share the mandate for a £250m (€356m) long-dated bond for the UK utility.

The 30-year bond marks Wessex Water's first foray into the international bond markets since the company was acquired by YTL Power, the Malaysian power producer, for £1.3bn in May 2002. The deal is expected to be launched this week at a price to yield between 95 basis points (bps) and 100bps over UK government bonds, or gilts.