Thames Water creditors to vote on £2.4bn emergency loan amid cash shortage
Briefing by News4U · First published
Creditors will decide Thursday on a £2.4bn loan to keep Thames Water operating until autumn 2027, as the company faces running out of cash by early 2027.
The Guardian reported that a consortium of Thames Water creditors called London & Valley Water will vote on Thursday on whether to increase a funding facility to £5.4bn, including a new £2.4bn loan, to keep the company operating until autumn 2027. [1]
Thames Water said it would be unable to reach a longer-term deal to sort out its debt pile before running out of cash by the end of 2026 or the start of 2027. The company has drawn £2.65bn of a previous £3bn loan at 9.75% interest. [1]
Sources
- Thames Water creditors to vote on emergency £2.4bn loan as cash runs low
The Guardian · · Excerpt