United Envirotech Water (Changyi) Signs Three Year SGD 45 million Senior Debt Facility with Standard Chartered

Published 

Offshore loan structure enables loan proceeds to be injected into China via foreign debt quota 

28 November 2013, Singapore – Standard Chartered today announced that it has closed a SGD 45 million term financing facility for United Envirotech Water (Changyi) Co. Ltd. (“UE Water (Changyi)”), a 70:30 joint venture between United Envirotech Ltd. (“UEL”) — a Singapore water treatment company listed on the mainboard of SGX– and Changyi Huade Weaving Co., Ltd, a local Chinese textile conglomerate. The three year amortising senior debt facility will fund the transfer, upgrading and expansion of four industrial wastewater treatment plants and a water supply plant in Changyi, Shandong, China.

The plants which have a total treatment capacity of 270,000 m3/day are installed with UEL’s membrane bio-reactor, an advanced waste water treatment technology that delivers better quality water discharge. In addition to improved water standards, this project is expected to bring about economic development to the local community and has created close to 200 employment opportunities to date.

Commenting on the project, Dr. Lin, Chairman and CEO of United Envirotech Water said, “We are proud to play an industry leading role in improving the local community’s quality of life with higher quality water discharge. The seamless execution of this transaction demonstrated Standard Chartered’s ability to combine industry expertise and local knowledge to support our growth plans in China.”

The offshore loan structure which enabled the loan proceeds to be injected into the onshore borrower (via the foreign debt quota with SAFE registration) is a solution that allows United Envirotech Water (Changyi) to capitalise the combined cash flows of the five water treatment plants. Standard Chartered was also the Mandated Lead Arranger and Hedging Bank for the transaction.

Commenting on the transaction, Conor McCoole, Head of Project and Export Finance for Asia & Americas of Standard Chartered Bank, said, “We are proud to play a key role in UEL’s growth plans in China. This is our second project financing for Singapore based UEL and it demonstrates our continuing commitment to support UEL with relevant financing solutions. It is a great example of how we help our clients achieve their goals while supporting environmentally sustainable economic development in China, one of the bank’s most important markets”

Most recent episodes

What’s on the Horizon for Short-term Investments?

The treasury community has risen to the ongoing challenge of rising interest rates and inflation, with corporate cash serving as the sought-after safety net. Here, Daniel Farrell (Northern Trust Asset Management) and Karl Adams (ICD) consider how the latest MMF reform proposals affect short-term...

Transitioning a Corporate from LIBOR to CME Term SOFR

The loans market has predominantly moved to forward looking term rates, and both corporate borrowers and global lenders are increasingly turning to CME Term SOFR as the forward looking risk-free benchmarks to support their activities. Listen to this podcast, featuring Gavin Lee, Marco Bianchi (CME...

37:16

HSBC’s Sibos Spotlight – View from Sibos

TMI's Eleanor Hill invites Neil Atkinson, Nadine Lagarmitte, and Vinay Mendonca (HSBC) to discuss the critical treasury topics and conversations highlighted at this year's Sibos conference in Amsterdam. Amongst a wealth of market insights, our guests consider the most critical developments emerging from...

38:40

ECB’s Targeted TLTRO Tweaks Set to Drain Excess Market Liquidity

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th...

05:42

Asian Treasury Trends: Learnings and Opportunities

Former corporate treasury professional, Valerie Heng (Deloitte) joins Eleanor Hill to discuss the hot topic of treasury transformation, alongside other key shifts treasurers should be aware of. In this podcast, Valerie uses her knowledge of the Asian Treasury market to explain how the role of the...

20:27

Collaborative Trade Finance: How to Unlock Liquidity at Speed

Imagine if trade finance applications were fully collaborative and corporates could communicate with every trade participant via an open digital hub.  In this podcast, Vincent Almering (Interfood Holding B.V.) and Enno-Burghard Weitzel (Surecomp) explain to TMI's Ben Poole how collaborative trade...

35:54

Critical Trends in Trade and Supply Chain Management

Three trade finance experts from Societe Generale join Ben Poole (TMI) in the virtual TreasuryCast studio to discuss critical developments in the trade space that are particularly impactful to corporate treasurers. In this podcast, Isabel Santos, Ariel Emirian and Pierre-Antoine Barreault (Societe...

21:32

Citizen Development: The New Productivity Engine for Corporate Treasurers

‘Citizen development’ is about encouraging non-IT professionals to learn software development skills. Here, Dor Haim (Kryon) questions whether, with the roll-out of low-code platforms, treasure...

07:09

Managing the Impact of Rising Interest Rates and Inflation

With interest rates rising as central banks try to contain inflation, a difficult balancing act is in progress. The responses of the various monetary policy committees are being watched with a keen eye by treasurers the world over as they consider their next actions. Tarek El-Yafi and Karen Hom (Standard...

08:21

Community Impact: Cash and Fixed Income Investing for Good

CNote is a tech-enabled impact investment platform – and a means for finance to be used as a “tool for economic justice”. Its focus on diversity, equity, and inclusion helps corporate and institutional investors use their capital to strengthen underserved communities.  Catherine Berman (CNote)...

13:37