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    Home > Finance > Thames Water's restructuring plan approved by bulk of creditors
    Finance

    Thames Water's restructuring plan approved by bulk of creditors

    Published by Global Banking & Finance Review®

    Posted on January 22, 2025

    1 min read

    Last updated: January 27, 2026

    This image illustrates the approval of Thames Water's restructuring plan, crucial for the utility's financial stability. The plan, backed by over 90% of creditors, aims to manage £17 billion in debt and secure new funding.
    Thames Water restructuring plan approved by creditors - Global Banking & Finance Review
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    Quick Summary

    Thames Water's restructuring plan, approved by 90% of creditors, secures £3 billion funding to stabilize the debt-laden utility.

    Thames Water's Restructuring Plan Secures Creditor Approval

    (Reuters) - Thames Water on Wednesday said that the restructuring plan proposed by the struggling utility company to extend its liquidity runway was approved by creditors holding over 90% of secured debt.

    The plan provides up to 3 billion pounds ($3.70 billion) in new funding, along with access to cash reserves and debt extensions, crucial for the British firm burdened with 17 billion pounds in debt.

    "We believe it is the only implementable solution to enable the equity investment required to provide stability and certainty in the longer term and will not impact customer bills," Julian Gething, chief restructuring officer said.

    ($1 = 0.8117 pounds)

    (Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Vijay Kishore)

    Key Takeaways

    • •Thames Water's restructuring plan approved by over 90% of creditors.
    • •The plan includes £3 billion in new funding.
    • •Access to cash reserves and debt extensions are part of the plan.
    • •The restructuring aims to provide stability without impacting customer bills.
    • •Thames Water is burdened with £17 billion in debt.

    Frequently Asked Questions about Thames Water's restructuring plan approved by bulk of creditors

    1What is the main topic?

    The main topic is Thames Water's restructuring plan to secure new funding and manage its debt.

    2How much funding does the plan provide?

    The plan provides up to £3 billion in new funding along with access to cash reserves.

    3Will the restructuring impact customer bills?

    According to Thames Water, the restructuring will not impact customer bills.

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