Finance and Investment
Thames Water Utilities Ltd has announced that the waiver contained in its STID Proposal (security trust and intercreditor deed) dated 20 December 2024 has been approved.by its majority Class A creditors.
Thames Water (TWUL) has rejected a proposed restructuring plan put forward by its Class B creditors as an alternative approach to the company’s plan - the junior bondholders have accused the Class A senior creditors of attaching “predatory” conditions to a £3 billion emergency loan for a iquidity extension transaction.
Thames Water has this morning announced that a supplemental expert witness report by Matt Cowlishaw of Teneo Financial Advisory Ltd in relation to the likely outcome for creditors under its proposed restructuring plan has been made available to the plan creditors, prospective buyers, transferees and sub-participants of thet debt.
Thames Water has gained High Court approval to proceed to the next phase of its emergency loan plan following the launch of its Liquidity Extension Transaction and a transaction support agreement on 25 October 2024.
Tugdock and Sarens have successfully secured funding from The Crown Estate through the initial round of its innovative Supply Chain Accelerator. This is match funding for a joint project by Tugdock and Sarens to develop aheavy lift Operations and Maintenance (O&M) hub at ABP’s port of Port Talbot in Wales.
- Investor bid for Thames Water could see company assets sold off and remains publicly listed
- Thames Water - company's lenders support appointment of Julian Gethin as Chief Restructuring Officer
- Fitch Ratings says Ofwat Final Determination for AMP8 will be crucial for de-risking UK water sector
- Restructuring plan - Thames Water publishes latest liquidity extension update
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Expert Focus
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Thames Water starts work on £20 million pipe upgrade in Islington February 13, 2024
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