Thames Water Secures £3bn Creditor Backing for Emergency Funding

The utility company wins crucial creditor support for a funding plan to avert collapse and nationalisation, pending court approval.

Thames Water has gained support from over 75% of its Class A creditors for a £3bn emergency funding deal.
The funding plan requires court approval, with a hearing scheduled for December 17, to proceed.
Initial funding of £1.5bn will be provided at an annual interest rate of 9.75%, with a conditional additional £1.5bn possible.
The company faces a £16bn debt burden and risks nationalisation if it fails to secure further investment.
Thames Water is working to raise additional equity while addressing public concerns over pollution, rising bills, and executive pay.