The Independent highlights a multibillion-pound rescue deal proposed by Thames Water's creditors, including major investment firms like Aberdeen, Elliott Management, and BlackRock. They aim to rework £17 billion in debt through £3 billion of new equity and additional funding. This proposal seeks regulatory leniency and involves substantial write-offs, indicating a likely 'complete loss' for current shareholders. Additionally, creditors warn that without a regulatory reset, key performance across pollution, asset health, and customer service could deteriorate, though customer bills are not expected to rise beyond approved rates over the next five years.
The creditors propose a multibillion-pound rescue deal for Thames Water, promising new investments in exchange for regulatory leniency and a significant write-off of existing debts.
The investment firms are looking to overhaul £17 billion in Thames Water's debts while offering £3 billion in new equity and a further £2 billion in funding.
Collection
[
|
...
]