Debt information

Long term debt portfolio

National Grid’s long term debt portfolio mainly consists of bonds issued under the entities of National Grid plc, National Grid Electricity Transmission plc, National Grid Gas plc, NGG Finance plc, Niagara Mohawk Power Company, New England Power Company, KeySpan Corp and a number of subsidiaries of National Grid Gas plc and KeySpan Corp.

Debt is issued in a variety of currencies.  Bonds not issued in either dollars or sterling are swapped back into dollars and/or sterling.  All non sterling bonds issued in the National Grid Electricity Transmission and National Grid Gas groups are swapped back into sterling.

The long term debt maturity portfolio ranges out to 50yrs.

National Grid long term debt maturity profile

National Grid's long term debt maturity profile  - The information is presented as Bar Chart of £(m) vs maturity (actual data not available but a text summary is available below)
 

The indicative exchange rate used is USD/GBP = 1.9488

The above graph illustrates the maturity profile of National Grid’s long term debt and it splits the debt profile into five groups. The first group, National Grid/NGGF, includes National Grid plc and NGG Finance plc as issuing entities. The second group is the NGUSA group, consisting of the issuing entities of Niagara Mohawk Power Company, Massachusetts Electric Company, The Narragansett Electric Company, New England Power Company, Granite State Electricity Company and KeySpan Corp companies. The next group, NGET, includes National Grid Electricity Transmission plc as an issuing entity.  The next group, Grain LNG includes Grain LNG as an issuing entity.  The final group, includes National Grid Gas plc, British Transco International Finance and British Transco Finance Inc and British Transco Finance (no 3).

The x axis states the financial year the debt matures, whilst the y axis states the outstanding level of debt in sterling millions maturing.

The bar chart, illustrating our long term debt portfolio, highlights that we have long term debt maturing in the majority of the financial years out to 2056/2057. On average there are higher levels of debt maturities in the financial years until 2012/2013 than in later years. For the years to 2012/2013 the level of debt maturing in each financial year ranges from c. £600m to c. £1.8bn. For the later years the level of debt maturing in each financial year ranges from zero to c. £1bn.