Thames Water lenders float new £10bn rescue plan

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Thames Water's lenders have proposed a £10bn rescue plan involving £3.35bn in fresh equity and £6.65bn in debt financing, alongside paying off hundreds of millions in regulatory fines, to prevent the company from entering government-managed administration. The plan is a bid to stave off effective temporary nationalization of the troubled UK water utility.

Latest effort involves paying off fines worth hundreds of millions of pounds as part of bid to stave off financial collapse Business live – latest updates Thames Water’s lenders have put forward a £10bn rescue plan that would involve paying off the troubled water company’s hundreds of millions of pounds-worth of fines for leaks and pollution, as part of an effort to stave off financial collapse. A group of private equity firms and investment groups said they would inject about £3.35bn of cash into Thames Water and raise £6.65bn in debt, in exchange for the company not falling into a government-handled administration, effectively a temporary nationalisation. Continue reading...