Thames Water creditors ‘will bid for company even if it is nationalised’

Thames Water’s senior creditors, a group of about 100 investors holding roughly £14 billion of debt, are continuing talks with Ofwat over a £10 billion rescue involving £3.35 billion of new equity, £3.25 billion of fresh debt and an £850 million penalty and redress package, and are prepared to bid for the utility even if it first enters a special administration regime, as the company faces £17.6 billion of debt and could run out of cash in October.

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