The consent request from the 10th of November has now been approved, leaving a mere €300m more to draw, which should focus

Thames Water Super Sr. creditors are asked to consent to another £321m draw under its facility - presumably the

Originally due for today, Thames Water has agreed to defer its appeal to the CMA regarding Ofwat’s determined pricing and

No standing by. Ahead of the referral to the CMA on Oct. 22nd, the creditor group has revamped its proposal to incorporate the fines that the

A commitment not to sell Thames Water before 2030, or the success of its turnaround carries a signal, even if cynically one could argue it

We thought this would happen over the summer, but only now have Thames Water issued their ultimatum to the regulator. The current burden of

We understand that the creditor group, now calling itself London & Valley Water, has resubmitted its amended plan as per indications

Progress at last. Following the guiding words of Rachel Reeves and the company reiterating that the only credible bid in town - currently - is that of

While we find nothing peculiar about the intensity of the negotiation between the Treasury, creditors and regulators, we concede that we had

The Utility has drawn its second tranche of the £1.5bn super sr. funding, which on the original math should see it through Q126. The company has worded the

Environment Secretary Steve Reed has signed the appointment of FTI Consulting to advise the government on contingency plans for Thames Water, if negotiations fail

Ofwat has agreed to postpone the referral of the price review decision to the CMA until October 22nd. According to the regulator, the three

We previously wrote that the company and creditors are the closely alligned in the negotiations. They are united by a common command of

Parties are still positioning themselves. The treasury insists that the utility pay its fines and fails to provide assurances beyond

The creditors have filed an alternative, minimalist plan that requires no price rises, but also no fines and less CapEx for the coming five years. Not having

We are wondering. We’ve shown the other day what the narrow path to making money looks like for TW and its investors and it’s clear that

When we wrote that KKR would walk out, we meant that tactically. TW’s statement this morning reads awfully final, but then

As per the FT this morning, we are now counting four equity bids for Thames Water: KKR, CK Infrastructure (Hutchinson), Covalis (B-Holder and fronting Suez / Kraken) and

And Plan A is sanctioned! Thames Water should, therefore, have funding until May 2026. This means the immediate pressure is somewhat off the situation for now, but as per yesterday’s comment, we are awaiting

This week, we should receive Judge Leech’s ruling on the A-Plan (tomorrow) and witness the hearing of the B-Plan on Wednesday. Depending on how that B-Plan hearing goes, we could see the

We would like to see the list of conditions attached to the equity bids that have come in. After Castle Water’s 4bn rescue plan, the Covalis / Suez/ Kraken bid this