Thames Water Provides Update on Super Senior Funding
The utility company has launched a fourth set of consent requests to its super senior creditors regarding a payment plan agreed with the regulator.
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The utility company has launched a fourth set of consent requests to its super senior creditors regarding a payment plan agreed with the regulator.
The utility company has agreed a payment plan with the regulator Ofwat for penalties related to its wastewater business and dividend payments.
The water utility company has completed the implementation of a liquidity extension transaction, securing funding to meet its forecast needs until at least mid-December 2025.
The utility company has published its annual financial statements for the year ended 31 March 2025.
The utility company has published its annual financial statements for the year ended 31 March 2025.
The water utility has agreed with its regulator to defer a request to have its regulatory determination referred to the CMA for further review, in order to continue discussions on a market-led solution for the company's recapitalisation.
The utility giant faces severe financial challenges, reporting a £1.6 billion loss and grappling with mounting debt. Regulatory pressures and liquidity issues compound the company's troubles, overshadowing modest revenue growth.
The utility company has announced the results of its Third Consent Requests, with creditors approving the proposed amendments.
The major water utility is seeking consent from creditors for further drawdowns on its super senior liquidity facility, as it continues to work on a market-led solution.
The major water utility provides an update on its ongoing equity raise process, indicating that KKR has withdrawn as the preferred partner and the company will now progress discussions with senior creditors.