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AWG is owned by a consortium of investors. The complete holding company structure is presented in the diagram below, and the principal companies in the structure are explained below.

When AWG was acquired by the AWG investors in 2006, Anglian Water Group Ltd became the ultimate parent company of the group. It is a Jersey registered company, but it is fully UK tax resident, and as such, is liable for tax in the UK. Osprey Holdco Ltd has issued debt that is held by our shareholders in proportion to their respective shareholdings, and they receive an interest payment on the debt annually. Osprey Acquisitions Ltd has borrowed money from banks and the capital markets (bonds) for use within the group. 

AWG Parent Co Limited, AWG Holdings Limited, AWG (UK) Holdings Limited and AWG Group Limited are holding companies that were set up when AWG was a listed group. They are all 100 per cent owned, and currently none of these companies has any external debt. Three of the companies are UK registered and tax resident. AWG Holdings Limited is Jersey registered and Irish tax resident.

Anglian Water Services Holdings Limited 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 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 are able to keep financing costs lower, which ultimately benefits our customers in the form of lower bills.

Anglian Water Services UK Parent Co Limited (AWS UK Parent Co) is a second holding company in the ring-fenced structure, also providing protection for customers and investors from the risks of other non-regulated group companies. It is a UK registered company. In May 2018, it replaced the previous second holding company, Anglian Water Services Overseas Holdings Limited, which was a Cayman Islands registered company. The changes were made as part of Anglian Water’s commitment to improve the transparency of our financial structures. Further information can be found on pages 46 and 47 of the Annual Integrated Report 2018 .

Anglian Water Services Limited is the regulated entity that trades as Anglian Water, managing our water and water recycling network, serving over six million customers. It is the part of the business that most people think of as ‘Anglian Water’. Anglian Water Services Financing Plc is the financing company that raises money on behalf of Anglian Water Services Limited. We need a Plc company to raise debt in the UK public bond market. Funds raised by this company underpin our investment in the region’s water and water recycling services.