ICBC contributes £25 million GBP to the £75 million GBP term loan tranche of a £560 million GBP syndicated loan to Anglian Water for general corporate purposes (Linked to Record ID#100124, #100126, and #100127)

Project narrative

On June 16, 2021, financial close was reached on a deal in which a syndicate of four banks — the Bank of China (BOC), the Industrial and Commercial Bank of China (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 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 — 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. BOC, ICBC, and ING each contributed £25.00 million GBP ($35.22 million USD) to the £75 million GBP term loan tranche. Record ID#100124 captures BOC's contribution. Record ID#100125 captures ICBC's contribution. BOC, ICBC, and ING each contributed £41.67 million GBP ($58.70 million USD) to the £125 million GBP term loan tranche. Record ID#100126 captures BOC's contribution. Record ID#100127 captures ICBC's contribution. NatWest provided the entire £360 million GBP bridge facility tranche.