Our Group
When AWG was acquired by investors in 2006, it became the ultimate parent company of the group. It is a Jersey-registered company, but UK tax resident and, as such, is liable for tax in the UK.
All companies in the AWG holding structure are UK tax resident and liable for tax in the UK. Osprey Holdco Limited has issued debt that is held by our shareholders in proportion to their respective shareholdings. They are entitled to receive an interest payment on the debt annually.
The Group’s financing strategy for AMP7 has reduced AWS gearing, in order to enhance and protect its current solid investment-grade credit ratings. This enables AWS to borrow at lower rates, to support the investments our customers have asked us to make.
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Anglian Water Group Companies
Aigrette Financing Limited, Osprey Investco Limited, Osprey Acquisitions Limited and their UK financing subsidiaries have borrowed funds externally during AMP7, in order to increase the Group’s equity investment in AWS. AWG Parent Co Limited and AWG Group Limited are holding companies that were set up when AWG was a listed group. Both companies are wholly-owned subsidiaries, are registered in the UK and are UK tax resident.
Anglian Water Services Holdings Limited, defined as AWS, was put in place in 2002, when Anglian Water’s covenanted and ring-fenced debt structure was established. This group of companies (referred to as the Anglian Water Services Financing Group, or AWSFG) protects customers and our bond holders from the risk associated with other non-regulated Anglian Water Group companies, outside of the ring fence. This makes us an attractive investment prospect for bond holders, which means we’ve been able to keep financing costs lower, ultimately benefiting our customers in the form of lower bills. Anglian Water Services UK Parent Co Limited is a second holding company in the ring-fenced structure, also providing protection for customers and investors from the risks of other nonregulated group companies. All companies within the AWSFG are UK-registered and UK tax resident companies.
Anglian Water Services Limited is the regulated entity that trades as Anglian Water, managing our water and water recycling network and serving almost seven million customers. It is the part of the business that most people think of as ‘Anglian Water’. The Group’s equity injections into AWS during AMP7 have enabled AWS to reduce its gearing. Anglian Water Services Financing Plc is the financing company that raises money on behalf of Anglian Water Services Limited. Funds raised by this company underpin our investment in the region’s water and water recycling services
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