A group of Thames Water lenders has put forward a new rescue deal for the struggling supplier pledging an extra £1 billion in investment, and plans to write off more than a quarter of the firm’s near-£20 billion debt pile.
London & Valley Water – a consortium of the supplier’s main creditors, including investors and financial institutions – said its offer was “more ambitious, delivers greater value for customers and follows three months of discussion with and feedback from Ofwat” to help turn around Thames Water.
