Thames Water's Banks Tap Perella Before Potential Debt Talks [BNN Bloomberg (Canada)]
Perella Weinberg Partners - Class A (PWP)
Company Research
Source: BNN Bloomberg
The group is made up of nearly 20 institutions, said the people, who asked not to be identified because discussions are private. The banks have exposure to the UK's largest water company through different debt instruments including swaps, a revolving credit facility, and some class A and class B bonds, the people added. Representatives for Perella Weinberg and Thames declined to comment. Hiring advisers is often a first step before talks between a company and its creditors, and sometimes helps give creditors more power to dictate terms. Investment bankers work with lenders to help develop restructuring proposals and negotiate with troubled companies. Other holders of class A and class B bonds, as well as US private placement notes earlier organized with advisers Akin Gump Strauss Hauer & Feld and Jefferies Financial Group Inc. In May, a lender to Thames Water had explored selling a total £600 million exposure, split between loans and bonds, but later paused the process, Bloombe
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Sec Filings
- 5/24/24 - Form 4
- 5/24/24 - Form 4
- 5/24/24 - Form 4
- PWP's page on the SEC website