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.”
ABB has launched AquaMaster+™, a digital platform for smart water network management, designed to help water utilities monitor, analyze and manage their water networks, preventing pipeline water losses and optimizing operations.
Craig Nienaber, Business Development Manager for Safe Access Solutions (SAS) at HUBER Technology, explores why the company is seeing a growing level of interest in its safe access solutions for critical infrastructure providers, including their application in wastewater treatment assets.
Albion Water, the first NAV (New Appointment & Variation) to have been established in1999 and now under the ownership of SDS Water Group, has appointed Andy Holland as its new Director of Business Development.
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Southern Water has released film and images showing what it’s like to walk inside Hampshire’s expanded Yew Hill underground reservoir for the very last time, before it gets filled with water.
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.