Thames Water presses on with creditor talks as time to resolve debt evaporates, sources say [Globe and Mail, The (Toronto, Canada)]
Perella Weinberg Partners - Class A (PWP)
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Source: Globe and Mail, The
Thames Water is pursuing talks with some of its creditors about a 1 billion pound ($1.34 billion) lifeline to give it space to restructure 16 billion pounds of debt and avoid the threat of administration, two sources with knowledge of the matter said. Britain's largest water company warned last week it could run out of money in three months if the majority of its creditors do not approve further borrowing to tide it over. Without a clear rescue plan, the government or the water regulator could decide to place Thames Water into a so-called special administration regime (SAR) to ensure it continues to serve 16 million people in London and the surrounding region. The crisis is coming to a head as Britain's new Labour government seeks billions of pounds of capital to upgrade the country's infrastructure, with water only one entry on a long list that also includes power grids, rail and roads. If Thames Water did end up in administration, the likely debt holder losses could shake w
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PWP
Sec Filings
- 9/10/24 - Form 8-K
- 9/9/24 - Form 4
- 9/5/24 - Form 4
- PWP's page on the SEC website