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Lenders offer over $4.4 billion equity injection to rescue Thames Water, Sky News reports
Creditors propose £3.35 billion equity injection to prevent Thames Water's collapse amid nearly £20 billion debt and pollution criticisms, securing at least 10% ownership.
- Lenders to Thames Water proposed a 3.35 billion pound equity injection on Saturday as part of an accelerated rescue effort.
- Facing nearly 20 billion pounds of debt and pollution criticism, Thames Water has drawn criticism over sewage pollution while grappling with nearly 20 billion pounds of debt, symbolizing wider water-sector failures.
- Creditors named in the plan include Invesco, Elliott Management and Silver Point Capital, and the revised proposal sent to Ofwat within the last 10 days would grant them at least a 10% equity stake.
- If no restructuring is agreed, Thames Water faces special administration, but a spokesperson said it is "working constructively with stakeholders" and remains hopeful of an agreement.
- Creditors did not immediately respond to Reuters' request for comment as the accelerated rescue effort seeks urgent funding this month, the report said.
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·United Kingdom
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Thames Water Creditors Pitch Improved Rescue Offer to Ofwat
Thames Water’s creditors have pitched an improved rescue offer for the troubled utility that includes a bigger equity injection and an increase in committed debt, according to a person with knowledge of the matter.
·United States
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Lenders offer over $4.4 billion equity injection to rescue Thames Water, Sky News reports
Lenders to Thames Water have offered to inject 3.35 billion pounds ($4.43 billion) of new equity into Britain's biggest water supplier as part of an accelerated effort to secure a rescue deal, Sky News reported on Saturday.
·United Kingdom
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Total News Sources17
Leaning Left3Leaning Right0Center7Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
L 30%
C 70%
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