Thames Water considers creditor-led recapitalisation proposal

Thames Water is reviewing a non-binding creditor-led recapitalisation proposal from London & Valley Water that would inject £3.35 billion of new equity and up to £6.55 billion of debt while imposing a 30% haircut on Class A creditors and wiping out junior debt and equity, as part of a broader restructuring to stabilise the business and fund a £20.4 billion turnaround plan.

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