Southern Water is looking to borrow up to £4bn from investors over the next five years, in a move that could ratchet up the pressure on utility companies turning to bond markets for support amid the ongoing crisis at Thames Water.
An investor presentation posted to Southern Water’s website shows that it will need to tap investors for up to £3.8bn worth of debt over the next five years, as part of a revised business plan – on top of needing to raise £650m worth of equity.
