CLSA leads $60m Chinese water financing

The mezzanine management arm of CLSA Capital Partners, an alternative investment group based in Singapore and Hong Kong, has led the financing of Asia Water Technology, a Singapore-listed company operating in China.

MezzAsia Capital, a pan-Asia mezzanine fund managed by CLSA Capital Partners has led and managed a $60 million (€44.4 million) financing deal for Singapore-listed Asia Water Technology.

CLSA Mezzanine Management structured the financing combining senior secured bonds with detachable warrants and junior secured convertible bonds, according to a statement.

This is the third investment for the pan-Asian mezzanine fund in twelve months.

Asia Water specialises in water purification and wastewater treatment in China.

Stephane Delatte, managing director of CLSA Mezzanine Management said: “China has about one-quarter of the average per capita water supply in the world, and 136 of its cities face severe water shortages.”

Delatte added that the pollution in China aggravates the water shortage, and Asia Water was well placed to participate in the development of the water-related investments needed.