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Centrus advises Kelda Water Services on a portfolio financing to fund new infrastructure projects

On 10th February, Kelda Water Services (“KWS”), the Yorkshire, England based holding company of the non-regulated businesses in the Kelda Group signed a portfolio financing facility secured on the cashflows from its existing operational assets.

The £35m, 14 year, committed facility is available to fund KWS’ new infrastructure assets, in particular its anaerobic digestion plants and can be increased under an accordion facility to £50m if certain conditions are met. ING Bank, London was the Mandated Lead Arranger of the facility.

Centrus acted as financial advisor to KWS on the financing.

Partner Geoff Knight, who led on the transaction for Centrus commented, “the structure of the bank facilities have been tailored to support the planned growth of KWS’ business by utilising the proven stability and strength of the existing operational assets. We drew upon our project finance expertise to support KWS in delivering a flexible financing which met its key objectives”.