Barclays Corporate and Investment Banking has awarded a two-tranche, US$43 million finance facility to Biwater to fund the construction of a seawater desalination, water storage and wastewater plant on Tortola – the largest and most populated of the British Virgin Islands.
Barclays acted as the sole advisor, arranger, lender and facility agent. The successful financial close of the complex transaction relied upon substantial collaboration between specialist units across Barclays Corporate and Investment Banking, including Capex Financing Solutions, Infrastructure and Project Finance and the Manufacturing, Transport and Logistics team.
The project was supported by the UK government export credit agency UK Expoer Finance which collaborated closely with the British Virgin Islands government said Barclays.