Thames Water's Debt Restructuring Plan Receives Strong Approval
(Reuters) -Thames Water, Britain's largest water supplier, said on Tuesday its debt restructuring proposals had secured approval, with over 95% of the outstanding principal amount of the qualifying Class A debt voting in favour.
The first tranche of funding is expected to be provided in the first few weeks of April, Thames added.
The company said Consent Requests gained approval from over 86% of Super Senior Issuer Secured Credit Participations. The total consent rate, which includes deemed consent, was reported to be over 96%.
Thames Water on Monday named U.S. investment firm KKR as the frontrunner to invest new equity into the company and help it avoid a state rescue.
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Maju Samuel and Shreya Biswas)
