Thames Water has won support from three-quarters of its creditors for an emergency funding deal which would throw the struggling utility company a £3 billion lifeline. The firm said on Wednesday that creditors holding more than 75% of its Class A debt – the least risky class of bonds in its debt pile – have agreed to the deal.
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NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and
00:06here are your headlines for this morning.
00:09Thames Water has won support from three quarters of its creditors for an emergency funding
00:14deal which would throw the company a £3 billion lifeline.
00:20The firm said that creditors holding more than 75% of its Class A debt have agreed to
00:27the deal.
00:29A number of investment giants including Blackrock, Aberdeen and M&G drew up the funding plan
00:35which, if approved, effectively guarantees Thames Water can keep operating until October
00:422025.
00:45My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.