(Reuters) – The largest creditor group of Thames Water has failed to stop a proposed 3 billion pound ($3.82 billion) financing package to settle regulatory fines imposed on the utility for a string of environmental and performance failings, Sky News reported on Thursday.
A key clause that would have allowed the company’s primary lenders, who hold over 10 billion pounds of its debt, to veto the payment of fines from the loan was dropped during early talks with Ofwat, the report said.
($1 = 0.7854 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Tasim Zahid)
