Thames Water creditors to vote on emergency £2.4bn loan as cash runs low
Campaigners say costly new funds will lead to higher bills, which company deniesA group of creditors to troubled Thames Water are poised to vote on whether to grant an emergency...
By Helena Horton · The Guardian World
Campaigners say costly new funds will lead to higher bills, which company denies A group of creditors to troubled Thames Water are poised to vote on whether to grant an emergency £2.4bn loan to keep the company afloat, as campaigners raise concerns it could add £40 to each household’s bills in interest alone. A consortium of creditors, called London & Valley Water, will vote on Thursday on whether to increase a funding facility for the debt-laden utility company to £5.4bn to keep it operating to autumn 2027. Continue reading...