Thames Water Lenders Plan £1B Lifeline This Year, Times Reports
A Thames Water Ltd. van at a works location in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Thames Water creditors are planning to inject more than £1 billion ($1.33 billion) into the utility before the end of the year to help to get its finances in order, The Times reported, citing sources it didn’t identify.
Hedge funds and institutions holding about £10 billion of Thames Water debt say it needs an infusion of cash to stabilize it and pave the way for a full restructuring, which may take until June 2025. Thames has said it has enough cash to last until May.