Reported 20 days ago
Thames Water's financial troubles have intensified as its swap holders, banks involved in derivative agreements, have formed a group to negotiate separately with the struggling utility. This group, with liabilities valued around £1.3 billion, is seeking to address their interests amidst Thames Water's efforts to secure emergency funding and restructure over £15 billion in outstanding debt. The situation raises concerns about the impact on senior creditors due to the super-senior swap liabilities, which complicates the overall debt negotiations.
Source: YAHOO