Thames Water rescue deal reaches ‘important milestone’ in …

Nov 13, 2024 · The heavily indebted utility company has agreed a deal for £3 billion in extra funding, but it needed 75% of its senior creditors to agree to it.

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Thames Water Rescue Deal Reaches ‘important Milestone’ In …

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Nov 13, 2024 · The heavily indebted utility company has agreed a deal for £3 billion in extra funding, but it needed 75% of its senior creditors to agree to it.

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Thames Water Rescue Deal Reaches ‘important Milestone’ In …

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Nov 13, 2024 · The firm said on Wednesday that creditors holding more than 75% of its Class A debt – the least risky class of bonds in its debt pile – have agreed to the deal. A cluster of …

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Thames Water Confident Over £3bn Funding Lifeline - Sky News

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Nov 13, 2024 · Crisis-hit Thames Water says it has received enough support from its creditors to potentially secure up to £3bn in emergency funding. The UK's biggest water firm revealed that …

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Thames Water Bondholders Submit Rival £3bn Financing Offer

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Nov 7, 2024 · Alastair Cochran, Thames Water's chief financial officer, said last month that the Class B group's proposals, which include funding lent at an interest rate of 8%, were …

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UK's Biggest Water Company Seeks Court Approval For Emergency …

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4 days ago · Creditors holding about 90% of the company’s debt have already backed the deal. Without the funding, Thames Water will run out of money in March, which could force the …

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Thames Water Secures £3bn Loan To Survive Into 2025

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Oct 25, 2024 · Thames Water has been thrown a cash lifeline that will tide the troubled utility giant over until October next year. The UK's biggest water group has secured a loan of up to £3bn …

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Thames Water Seeks High Court Approval For Rescue Plan

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4 days ago · The loan is being offered by existing "A class" creditors who hold around £11bn of the more than £16bn of debt racked up by Thames Water Utility Holdings, the regulated …

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Thames Water Lines Up £3bn Lifeline From Creditors

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Troubled utility’s plan allows breathing space to restructure its £16bn debt

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Thames Water Gets Key Creditor Support For Rescue Plan - BNN …

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Nov 13, 2024 · (Bloomberg) -- Thames Water won crucial support from creditors to move forward with its plan to raise £3 billion ($3.8 billion) in emergency funding. Holders of more than three …

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Thames Water Rescue Deal Reaches ‘important Milestone’ In …

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Nov 13, 2024 · Thames Water rescue deal reaches ‘important milestone’ in creditor backing The heavily indebted utility company has agreed a deal for £3 billion in extra funding, but it needed …

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UK's Thames Water Secures £3 Billion Debt Lifeline | Reuters

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Oct 25, 2024 · Thames Water said on Friday it had lined up a financing lifeline of up to 3 billion pounds with some of its creditors, in a deal which if approved by will help Britain's biggest …

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Britain's Thames Water Says Creditors Back $3.8 Bln Funding Lifeline ...

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Nov 13, 2024 · Britain's Thames Water said on Wednesday that creditors holding more than 75% of its Class A debt had backed a 3 billion pound ($3.82 billion) funding lifeline, giving it …

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Thames Water Faces Fresh Opposition To Emergency Fundraising Plan

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4 days ago · Creditors criticise “ransom terms” on up to £3bn in funding as the utility faces running out of cash . ... Thames Water has said that the loan is a necessary bridge to a wider …

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Creditors In High Court Row Over Thames Water Restructuring Plans

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Dec 17, 2024 · Lawyers for Thames Water Utilities Holding Ltd (TWUH), one of the companies which form Thames Water Group (TWG), told the court that creditors holding more than 75% …

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Thames Water Launches Plan To Raise Up To £3bn In Emergency …

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Oct 25, 2024 · Thames Water said the fresh funding deal will need court approval, with an initial hearing due on December 17. The process is expected to complete by late January.

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Rival Thames Water Bondholders To Table £3bn Rescue Plan

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Oct 28, 2024 · The group is expected to argue that its offer will be significantly cheaper than one from Class A - or more senior - creditors backed by Thames Water late last week, which …

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Thames Water Wins Backing From Lenders For £3bn Debt Lifeline

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Nov 13, 2024 · Thames Water has won support from three quarters of its highest-ranking creditors for an emergency £3bn funding deal. Thames Water has won support from three …

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Thames Water Creditors Back £3bn Funding Deal

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Refinancing plan will give the troubled utility company enough cash to keep operating until October next year — but it still needs court approval

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Thames Water’s £3bn Class A Proposal ‘got The Numbers’ Needed, …

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Nov 12, 2024 · Thames Water’s Class A creditors, which collectively hold around £12bn of the stricken utility’s debt, had until Monday to decide whether to join a £3bn 9.75% funding …

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Thames Water Returns To Court With Insolvency Weeks Away

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4 days ago · In court filings, Thames Water’s Class A creditors, which represent around £16.5bn of Thames’ debt pile, have outlined a plan to provide £1.5bn of super senior funding and a …

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FAQs about Thames Water rescue deal reaches ‘important milestone’ in … Coupon?

Does Thames Water have a £3bn emergency funding deal?

Thames Water has won support from three quarters of its highest-ranking creditors for an emergency £3bn funding deal. The water supplier said on Wednesday that creditors holding more than 75pc of its Class A debt – the least-risky class of bonds in its debt pile – had agreed to the new borrowings. ...

Does Thames Water have a debt-raising plan?

Thames Water and a coordinating committee of Class A creditors — including Elliott Investment Management and Silver Point Capital — devised the latest debt-raising proposal. In its statement, the company said that the creditors backing the proposal also support its plan to access up to £400 million of cash reserves. ...

Why did Thames Water announce a £3 billion restructure deal?

Read our privacy notice. Thames Water has revealed a proposal to secure up to £3 billion in new cash from creditors as it seeks to bolster its finances and avoid the threat of nationalisation. The struggling utilities giant has put forward the deal amid continued efforts to restructure its significant debt pile. ...

Is Thames Water Financing too expensive?

The High Court in London began a four-day hearing on the financing package on Monday, with Thames Water facing off against smaller creditors who complain that the deal is too expensive and favors bigger investors. Creditors holding about 90% of the company’s debt have already backed the deal. ...

Does Britain's Thames Water have a funding lifeline?

Britain's Thames Water said on Wednesday that creditors holding more than 75% of its Class A debt had backed a 3 billion pound ($3.82 billion) funding lifeline, giving it breathing space to shore up its finances and avoid nationalisation. ...

Will Thames Water restructure a £3bn emergency loan?

The indebted utility is seeking a judge's approval for a restructuring plan centred on an emergency loan it says it needs to avoid running out of cash by the end of March. Thames Water will seek High Court approval for a £3bn rescue plan in a four-day hearing beginning at the Royal Courts of Justice on Monday. ...