Slaughter and May advised UK Infrastructure Bank on its first investment in the UK water sector

Slaughter and May advised UK Infrastructure Bank (UKIB) in relation to a £50,000,000 loan to Portsmouth Water. The loan represents UKIB’s first investment in the UK’s water industry, with the proceeds being used to finance the construction of the Havant Thicket Reservoir near Rowlands Castle, Hampshire.

The reservoir, which is the first to be built in the UK since the 1980s, will help to protect internationally rare chalk rivers by providing additional water supplies and resilience to the South of England, an area with significant risk of water shortages due to climate change and a growing population.

UKIB opened its headquarters in Leeds in June 2021. Since its launch, it has announced 12 deals in total, investing approximately £1.16 billion and unlocking more than £5.1 billion in private capital. The Bank has twin objectives of helping tackle climate change and boosting regional and local economic growth, partnering with the private sector and local government to unlock infrastructure investment across the UK.

Slaughter and May worked with UKIB’s internal legal and business teams.

Samay Shah Partner
Adrian Barrus Senior Counsel
Liam Reynolds Associate