Britain's Thames Water says creditors back $3.8 billion funding lifeline
Britain's Thames Water said on Wednesday that creditors holding more than 75% of its Class A debt had backed a 3 billion pound ($3.82 billion) funding lifeline, giving it breathing space to shore up its finances and avoid nationalisation.
Thames Water Gets Creditor Backing for $3.82 Bln Lifeline Deal
Thames Water Utilities secured the backing of creditors for a 3-billion pounds ($3.82 billion) lifeline financing deal. The debt-laden U.K. water utility said Wednesday that creditors representing more than 75% of its class A debt have agreed to the refinancing.
Thames Water wins creditor approval for £3bn emergency loan
Thames Water said creditors holding more than 75% of its class A debt had backed an agreement in support of a funding proposal.
Thames Water says 75% of Class A bondholders back funding deal
British water company Thames Water said on Wednesday that creditors holding more than 75% of its Class A debt had backed an agreement in support of an funding proposal. The indebted utility said reaching the acceptance threshold was an important milestone in implementing the liquidity extension,
Thames Water rescue deal reaches ‘important milestone’ in creditor backing
Thames Water has won support from three-quarters of its creditors for an emergency funding deal which would throw the struggling utility company a £3 billion lifeline. The firm said on Wednesday that creditors holding more than 75% of its Class A debt – the least risky class of bonds in its debt pile – have agreed to the deal.
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