Thames Water wins majority support among key Class B creditors for recapitalisation

Thames Water has secured support from holders of more than 60% of its junior Class B debt for a proposed recapitalisation that would write off approximately £1 billion of debt in exchange for a recovery of just 5.9% through equity and other rights, advancing a creditor-led rescue of the £20 billion-indebted utility as it seeks an additional £2.4 billion in emergency funding and attempts to avoid government intervention.

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