ICBC contributes £25 million GBP to a £500 million GBP syndicated revolving credit facility to Anglian Water Services Financing for refinancing and general corporate purposes (Linked to Record ID#100118)

Project narrative

On February 26, 2015, financial close was reached on a deal in which a syndicate of 15 banks — including the Bank of China (BOC) and the Industrial and Commercial Bank of China (ICBC) — entered into a £500.00 million GBP ($770.39 million USD) syndicated revolving credit facility (RCF) agreement with Anglian Water Services Financing plc (AWSF) — an England and Wales-incorporated financing company and wholly owned subsidiary of AWG Group Limited that raises money on behalf of Anglian Water Services Limited, an English water company based in the East of England wholly owned by Anglian Water Group Limited, a Jersey-incorporated company owned and controlled by a consortium of investors including Canada Pension Plan Investment Board, Colonial First State Global Asset Management, Industry Funds Management (IFM), and 3i Group plc — for refinancing and general corporate purposes. This loan carried a maturity period of five years and a final maturity period of February 26, 2020. The proceeds were to be used by the borrower to refinance and increase its £420 million GBP existing facility maturing in 2016, for general corporate purposes and working capital and capital expenditure requirements. The RCF was planned to be refinanced at maturity. BOC and ICBC each contributed £25.00 million GBP ($38.52 million USD) to the loan syndicate. Record ID#100118 captures BOC's contribution. Record ID#100119 captures ICBC's contribution. In addition to BOC and ICBC, the following lenders contributed the respective amounts to the loan syndicate: Commonwealth Bank of Australia (CBA) (£45.00 million GBP; $69.34 million USD), Abbey National Treasury Services Plc (ANTS) (£45.00 million GBP), HSBC Bank plc (£45.00 million GBP), Royal Bank of Scotland (RBS) (£45.00 million GBP), BNP Paribas S.A., (£45.00 million GBP), Crédit Agricole Group (£25.00 million GBP; $38.52 million USD), Crédit Industriel et Commercial (CIC) (£25.00 million GBP), Lloyds Bank (£45.00 million GBP), Barclays Bank Plc (£45.00 million GBP), the Bank of Nova Scotia (Scotiabank) (£25.00 million GBP), Sumitomo Mitsui Banking Corporation (SMBC) (£45.00 million GBP), and JPMorgan (£15.00 million GBP; $23.11 million USD). This RCF was undrawn as of March 31, 2015. On March 27, 2015, a syndicate of eight banks — including BOC and ICBC (London) — signed a £125.00 million GBP ($185.35 million USD) syndicated multi-currency RCF with Anglian Water (Osprey) Financing PLC — an Ireland-incorporated financing company for Anglian Water Services Limited — refinancing and general corporate purposes. This loan carried a maturity period of five years and a final maturity date of March 31, 2020 Each lender, including BOC and ICBC, each contributed £15.62 million GBP ($23.16 million USD), to the loan syndicate. Record ID# captures BOC's contribution. Record ID# captures ICBC's contribution. In addition to BOC and ICBC, the following lenders contributed to the loan syndicate: ING Group N.V., Royal Bank of Scotland (RBS), Barclays Bank Plc, HSBC Bank PLC, Lloyds Bank, and BNP Paribas S.A.. RBS served as agent. As of March 31, 2016, this RCF was undrawn. On May 31, 2019, financial close was reached on a deal in which a syndicate of nine banks — including BOC and ICBC — entered into a £250.00 million GBP ($315.23 million USD) syndicated revolver loan agreement with Anglian Water for refinancing purposes. This loan carried a maturity period of five years and a final maturity date of May 31, 2024. The proceeds were to be used to refinance the £125 million GBP revolver accrued in March 2015 Each lender, including BOC and ICBC, contributed £27.78 million GBP ($35.03 million USD) to the loan syndicate. Record ID# captures BOC's contribution. Record ID# captures ICBC's contribution. In addition to BOC and ICBC, the following lenders contributed to the loan syndicate: National Westminster Bank plc (NatWest), Barclays Bank Plc, HSBC Bank PLC, Barclays Bank PLC, Lloyds Bank, BNP Paribas S.A., ING Group N.V., and Sumitomo Mitsui Banking Corporation (SMBC). On June 16, 2021, financial close was reached on a deal in which a syndicate of four banks — BOC, ICBC, ING Group N.V., and National Westminster Bank plc (NatWest) — entered into £560.00 million GBP ($788.91 million USD) syndicated loan agreement with Anglian Water for general corporate purposes. This loan was divided into three tranches: a £75.00 million GBP ($105.66 million USD) term loan tranche with a maturity period of five years plus two one-year extension options, a £125.00 million GBP ($176.10 million USD) term loan tranche with a maturity period of five years plus two one-year extension options, and a £360.00 million GBP ($507.16 million USD) bridge facility tranche with a maturity period of two years and six months (2.5 years) and a final maturity date of December 16, 2023.