Investor Presentaiton slide image

Investor Presentaiton

Tideway Financing Programme • • Corporate and transaction structure diagram Obligor Security Trustee Discontinuation Fixed security over shares in Holdco Creditor GSP Documents JVCo Typical WBS structure Creditors will have security over all the assets of the Holdco Group subject to usual regulatory restrictions Flexible, multi-currency platform at FinCo (Issuer) level Secretary of State/MDF Provider/ • CESA Discontinuation Agreement MDF SCA • SDA SAOA Placements can be raised at • Bank debt and Private Company level £1bn RCF in place with 6 relationship banks £0.7bn EIB term loan • All debt will be senior and rank Pari Passu Hedging Liquidity Facility Initial RCF Initial Revolving Credit Facility Agreement Facility Providers EIB Finance Contract Holdco Fixed security over shares and a "qualifying floating charge" (Holdco) plus limited security interests from the Company and TTT.Co Full security package Issuer Security Trustee Issuer/Borrower Loan Agreements Company Issuer. Bonds Liquidity Facility Hedging TTT.Co Secured group ringfence Tideway's structure is very similar to other UK regulated utility securitisations 14
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