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Overview

Bank of China (London Branch) restructures — via a 4.083-year maturity extension — a £50 million GBP revolving credit facility to Anglian Water Services Financing for on-lending to Anglian Water Services for general corporate purposes

Commitment Year•2020Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•United KingdomSector•Action Relating To DebtFlow Type•Debt rescheduling

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 19, 2020
Last repayment (originally scheduled)
Jun 24, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Anglian Water Services Financing plc (AWSF)
  • Anglian Water Services Limited

Loan description

Bank of China (London Branch) restructures — via a 4.083-year maturity extension — a £50 million GBP revolving credit facility to Anglian Water Services Financing for on-lending to Anglian Water Services for general corporate purposes

Interest type•UnknownMaturity•9.083 years

Narrative

Full Description

Project narrative

On May 11, 2015, the London Branch of the Bank of China (BOC) entered into a £50,000,000 GBP 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 on-lending to Anglian Water Services for general corporate purposes. This loan carried a maturity period of five years and a final maturity date of May 11, 2020. Record ID#100128 captures the loan. Then, between April 1, 2020 and October 19, 2020, BOC entered into an amendment agreement with AWSF; in this amendment, BOC extended the final maturity date to June 24, 2024 — a maturity period extension of 4.083 years — for a new maturity period of 9.083 years. Record ID#100129 captures BOC's contribution to this debt rescheduling.