Water reaches debt settlement with creditors
British company Themes Water announced that it has reached an agreement with its major debt holders of Class B bonds regarding the company's capital restructuring, which involves writing off approximately £1 billion ($1.33 billion) of its debt. This agreement is supported by over 60% of Class B creditors, and they will receive shares and rights after the restructuring, with an estimated recovery of about 5.9% of their claims. Negotiations are still ongoing with regulatory authorities and the London & Valley Water coalition, and no final decision has been made yet regarding the implementation of the proposal. Therefore, this step is part of the company's debt restructuring efforts and not a final rescue plan.
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