Thames Creditors Offer More Cash in Last-Ditch Rescue Plan

Thames Water’s senior creditors have sweetened their proposal to save the ailing utility, pledging even more cash and a 25% debt haircut.

The offer to inject £5.4 billion ($7.3 billion) of fresh funds and take a further write-down on existing liabilities is the final piece that the creditor group, dubbed the London & Valley Water consortium, had to submit to try to convince water regulator Ofwat to accept its proposed takeover.