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Thames Water Secures £16 Billion Rescue Deal to Avert Crisis

2/3/2026

49 9 Full Breakdown

Summary

Story summary

Thames Water is nearing a £16 billion rescue deal with lenders to avoid temporary public ownership, aiming for agreement with the Water Services Regulation Authority (Ofwat) by 2025.
Creditors holding about £13 billion of Thames Water's £20 billion debt would accept a 30% cut on Class A debt and receive at least 10% equity.
If the deal closes, regulators say it could boost financial stability and benefit 16 million customers.

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Story summary

Thames Water is nearing a £16 billion rescue deal with lenders to avoid temporary public ownership, aiming for agreement with the Water Services Regulation Authority (Ofwat) by 2025.
Creditors holding about £13 billion of Thames Water's £20 billion debt would accept a 30% cut on Class A debt and receive at least 10% equity.
If the deal closes, regulators say it could boost financial stability and benefit 16 million customers.