Finance
UK's Thames Water receives majority approval for debt restructuring proposals
Published by Global Banking & Finance Review®
Posted on May 14, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 14, 2025
1 min readLast updated: January 23, 2026
Thames Water secures 98.78% creditor approval for debt restructuring, enabling it to draw the second tranche of super senior funding.
(Reuters) -Thames Water, Britain's embattled water supplier, said on Wednesday 98.78% of creditors voted in favour of the second consent request for its debt restructuring proposals.
The company will now commence the drawing process for the second tranche of super senior funding, it said.
Thames Water has been battling against a financial collapse since last year and recently appointed KKR to help it raise new equity.
It had to seek permission from its creditors to draw down the second tranche of funding to be provided in May.
The Second Consent Requests was approved by 94.58% of Super Senior Issuer Secured Credit Participations. The total consent rate, which includes deemed consent, was 98.78%.
(Reporting by Yamini Kalia in Bengaluru; Editing by Krishna Chandra Eluri)
The article discusses Thames Water's approval for its debt restructuring proposals by creditors.
KKR has been appointed to help Thames Water raise new equity.
98.78% of creditors voted in favor of the debt restructuring proposals.
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