Thames Water seeks court approval for emergency cash

5 days ago · Thames Water will seek approval for an emergency cash lifeline in court on Monday as it faces running out of money in four weeks' time. Lenders to the debt-saddled company are …

CouponFollow Extension

£3
OFF

Thames Water Seeks Court Approval For Emergency Cash

2 weeks from now

6 days ago · Lenders to the debt-saddled company are offering up to £3bn in additional short-term loans to buy time to complete a major restructuring of the UK's biggest water and waste …

bbc.co.uk

75%
OFF

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

2 weeks from now

Nov 13, 2024 · The fresh money, starting with an initial tranche of £1.5 billion, comes with an annual interest rate of 9.75%. Surpassing the 75% threshold for one class of creditors meets …

bnnbloomberg.ca

£3
OFF

Thames Water Steps Up Hunt For £3.3 Billion Fresh Cash

2 weeks from now

The troubled utility has set itself a deadline of early November to assemble potential investors

thetimes.com

£189
OFF

Thames Water Says It Will Run Out Of Cash In March

2 weeks from now

Dec 10, 2024 · The company recorded a £189.7million loss, compared to a profit of £172.3million in 2023. Thames Water blamed the swing into the red on £426.7million of one-off ‘exceptional …

thisismoney.co.uk

$4
OFF

Britain’s Struggling Thames Water Says It Needs Cash Release By …

2 weeks from now

Sep 20, 2024 · The company, which supplies a quarter of the U.K. population with water, has said it needs to raise equity of £3.25-billion ($4.3-billion) over the next five years. Without new …

theglobeandmail.com

$4
OFF

UK's Thames Water, On The Brink, In Talks For Cash Lifeline

2 weeks from now

Sep 20, 2024 · The company, which supplies a quarter of the UK population with water, has said it needs to raise equity of 3.25 billion pounds ($4.3 billion) over the next five years. Without …

reuters.com

£3
OFF

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

2 weeks from now

Oct 25, 2024 · Thames Water has revealed a proposal to secure up to £3 billion in new cash from ... cash boost of £1.5 billion would fund the company until May 2026. Thames Water said the …

standard.co.uk

£3
OFF

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

2 weeks from now

Oct 25, 2024 · The struggling utilities giant has put forward the deal amid continued efforts to restructure its significant debt pile.

yahoo.com

£3
OFF

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

2 weeks from now

Oct 25, 2024 · The new debt package on the table also includes a further tranche up to 1.5 billion pounds which would tide Thames Water over if it decides to launch a regulatory appeal over …

reuters.com

£15
OFF

Thames Water Ramps Up Bid To Raise More Cash From Investors

2 weeks from now

Sep 20, 2024 · Thames Water ramps up bid to raise more cash from investors. Thames Water is currently in debt of around £15bn By JANE DENTON. Updated: 05:29 EST, 20 September 2024

thisismoney.co.uk

£3
OFF

Thames Water Seeks £3 Billion From Creditors On Urgent Cash Needs

2 weeks from now

Oct 25, 2024 · It could also access a further £1.5 billion across two tranches of £750 million in those circumstances. While the agreement has the backing of Class A creditors, a separate …

businesstimes.com.sg

£15
OFF

Thames Water Scrambles To Find Cash After Investors Pull Funding

2 weeks from now

Mar 28, 2024 · Thames Water has been left with debts of nearly £15 billion, while it has also come under intense scrutiny after missing sewage spill and leakage targets. MORE ABOUT Ofwat

standard.co.uk

£500
OFF

Thames Water Scrambles To Find Cash After Investors Pull Funding

2 weeks from now

Mar 28, 2024 · Thames Water scrambles to find cash after investors pull funding The firm revealed that its investors had withdrawn a £500 million funding lifeline that was due to be paid …

independent.co.uk

FAQs about Thames Water seeks court approval for emergency cash Coupon?

Is Thames Water running out of money?

Thames Water will seek approval for an emergency cash lifeline in court on Monday as it faces running out of money in four weeks' time. Lenders to the debt-saddled company are offering up to £3bn in additional short-term loans to buy time to complete a major restructuring of the UK's biggest water and waste company. ...

Will Thames Water raise £3 billion in emergency funding?

(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-quarters of the beleagured utility’s top-ranked, Class A debt agreed to the proposal, according to a statement from the company on Wednesday. ...

Will Thames Water get a 53% cash boost?

Thames Water has called for its customers to face a 53% increase. Securing the second cash boost of £1.5 billion would fund the company until May 2026. 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. ...

How much money does Thames Water need?

Thames Water, which serves about 16 million people, is in the grip of a funding crisis and only has enough cash to continue operating until early next year. It needs at least £3.3 billion in equity over the next five years, while it is also more than £16 billion in debt. ...

How much money does Thames need to run out of capital?

It also wants to access cash reserves to avoid running out of operating capital by the end of December. Under the proposal, Thames is seeking to obtain up to £3 billion in super senior funding, made up of an initial tranche of £1.5 billion. Its liquidity would be extended to October 2025. ...

Why is Thames Water proposing a £3 billion restructure deal?

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. ...