Thames Water Bonds Edge Higher on Bets Selloff Overdone
- Ringfenced debt seen safest, but holding-company notes jump
- Thames Water bonds sank on speculation nationalization coming
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The bonds of the UK’s biggest water provider climbed on Monday as investors bet a selloff driven by fears the utility would be nationalized had gone too far.
Notes issued by Thames Water’s holding company unit that are due to mature in three years gained about 7 pence on the pound to 62, according to CBBT data compiled by Bloomberg. Meanwhile, debt due in 2027 that was sold by the operating company rose 0.6 pence to around 91 per pound.