A group of Thames Water investors has offered a sweetened rescue deal for the struggling supplier, vowing to invest an extra £1 billion and write off more than a quarter of debts in return for more lenient performance targets.
London & Valley Water – a consortium of the supplier’s main creditors, including investors and financial institutions – said it would write off around £4 billion, or 25%, of the debt it holds, up from 20% in the previous proposal, plus debts held by other creditors.
