Southern Water secures £1.2bn fresh equity from Macquarie

Southern Water handed £1.2bn liquidity boost by 'vampire kangaroo'

The Australian investment giant will initially inject £655million into the group, followed by a minimum £245million by December, an amount that could grow to £545million.

Southern Water receives further £1.2bn equity injection to bolster finances

The fresh equity come as part of a deal that will also see the debt owed to its holding company lenders slashed by more than half.

Southern Water secures £1.2bn fresh equity from Macquarie

Deal with Australian investor will see lenders including Ares and Westbourne take a haircut on their debt

Macquarie to inject £1.2bn into struggling Southern Water

Macquarie is to invest £1.2bn into the struggling utility Southern Water in a move that could prevent a possible breach of its regulatory license. The new equity investment plan will enable Southern, which supplies water to 2.6m customers in Kent, Sussex, Hampshire and the Isle of Wight, to fund its Ofwat-approved investment programme for the next five years. The package includes an initial £655m of equity, followed by a further £545m to be comm…