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Thames Water nears £16B rescue deal to avoid public takeover, with debt write-down and creditor equity stakes.
Thames Water is close to a £16 billion rescue deal with lenders to avoid temporary public ownership, according to Sky News, with creditors holding £13 billion of its £20 billion debt aiming for a preliminary agreement by mid-February.
The plan includes a debt write-down of up to 30%, more than £13 billion in existing debt forgiven, and creditors receiving at least 10% equity in the restructured company.
An equity injection of £3.15 billion may increase if finalized.
The deal, pending regulator approval, would prevent a government-led takeover and allow the utility to continue operating privately.
Reuters could not confirm the details, and final terms remain uncertain.
Thames Water se acerca a un acuerdo de rescate de 16 mil millones de libras para evitar la adquisición pública, con amortización de la deuda y participaciones en el capital de los acreedores.