Thames Water is rescheduling debt as it tries to improve its current financial situation, according to reports in the financial press.
Thames Water is seeking to buy back debt which matures in 2025 and issuing up to £750 million term in long term bonds.
A tender offer and new issue published by Thames Water Utilities Finance Plc yesterday via the Regulatory News Service operated by the London Stock Exchange plc is inviting current holders of its outstanding Class A £500,000,000 4 per cent. Guaranteed Unwrapped Bonds which are due June 2025 to tender their Notes for purchase by the company for cash.
The Rationale for the Offer set out in the document states:
“The purpose of the Offer and the planned issuance of New Notes (as defined below) is, amongst other things, to optimise the Company's debt maturity profile. Furthermore, the Offer will provide liquidity to those holders whose Notes are accepted and purchased in the Offer.”
Bloomberg is describing the latest financial developments at the water company as “an effort that could give the embattled utility more time to regain its financial footing.”
Barhale has completed work on two separate Rapid Action Taskforce Spills projects it is carrying out for Severn Trent.
Börger UK, which has firmly established itself as a leading pump brand since it was set up in Staffordshire in 2004, has moved into bigger, brand-new premises in Shrewsbury.
HUBER Technology UK & Ireland are inviting people to register for their March webinar where they will be providing information about HUBER water intake screens for municipal and industrial applications.
Sulzer has launched a new global Center of Excellence (CoE) for Water Treatment Solutions - the CoE consolidates Sulzer’s wastewater treatment expertise in a unified and global manner.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
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