(Reuters) – Britain’s Thames Water said the court-approved debt lifeline of 3 billion pounds would come into effect on Friday, warding off a collapse of the country’s biggest water supplier.
The company will proceed with the initial implementation steps of the liquidity extension plan. The lifeline, provided by senior or class A creditors, will give Thames 1.5 billion pounds plus a possible further 1.5 billion pounds, extending its funding until May 2026.
However, the final steps of the transaction will not be taken until the outcome of an appeal lodged by its junior or class B creditors.
The hearing for the class B creditors’ appeal will take place between March 11 and 13.
(Reporting by Prerna Bedi in Bengaluru; Editing by Shilpi Majumdar)
