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

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

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 June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third 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 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

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 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second 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 3rd of...

05:25