Thames Water creditors offer 'best and final' rescue funding deal

A consortium of Thames Water creditors led by Elliott Management, Silver Point Capital, Invesco and PIMCO has submitted a “best and final” rescue proposal involving roughly £3.4 billion in new equity, £3.3 billion in fresh debt and a partial debt write-off in an effort to stabilize the heavily indebted utility and prevent it from entering the UK’s special administration regime.

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