A struggling UK utility, Thames Water, is set to receive a loan extension of at least £1.5 billion ($1.9 billion) from a group of creditors holding its riskiest debt. The creditors, who hold Class B securities, are offering an interest rate of around 8%. This move highlights the ongoing financial challenges faced by Thames Water as it tries to stabilize its operations amidst increasing pressures.
The involvement of these creditors shows their willingness to support the utility in overcoming its current difficulties, reflecting wider concerns about the sustainability of essential services in the UK.