Thames Water has received the necessary support from creditors to proceed with its emergency funding plan worth £3 billion. The majority of holders of the company's highest-ranked Class A debt have agreed to the proposal, allowing Thames Water to continue with its financial strategy.
This backing is crucial for Thames Water as it addresses its financial challenges and works towards stabilizing its operations.
The initial funding amount will be £1.5 billion, with an annual interest rate of 9.75%.