2 publishers · first seen Mon, 09 Nov 2026 08:40 UTC · updated Tue, 10 Nov 2026 10:10 UTC
Thames Water, the UK's largest water company, has proposed extending the repayment of over £12 billion of its £20 billion debt to March 2028, aiming to secure a rescue deal. This move follows a £2.4 billion emergency loan from creditors in February 2026, which, along with a previous £3 billion loan, has extended the company's financial runway to autumn 2027. The creditors, led by US hedge funds and institutional investors, are in talks with Ofwat and the government over a £10 billion deal to prevent nationalisation. The company's debt crisis has led to concerns over water quality and infrastructure, with calls for nationalisation or special administration to address these issues.
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