Barclays agrees Peel Water debt

Peel Group subsidiary Peel Water Services has arranged a £10m loan with Barclays Corporate.

The three-year interest-only loan was arranged by David Culshaw, relationship director and Chris Boyes, debt finance associate director at Barclays Corporate in Manchester.

Peel Water Services was established to manage the rights of extraction and discharge of water from and to Peel Group watercourse assets including the Manchester Ship Canal, part of the Bridgewater Canal and the Mersey, Birkenhead, Clyde, Sheerness and Heysham Docks.

David Culshaw, relationship director of Barclays Corporate in Manchester, said: "Our strong track record in delivering tailored funding solutions to Peel Group ensured we were able to provide the best possible solution to meet the funding needs of Peel Water Services. This innovative transaction demonstrates our continued support for the Peel Group and our ability to tailor a solution to fit their requirements."