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Thames Water Utilities Limited, on 9 October 2025, invited holders of its Class B debt to form an ad hoc group of lenders. This action aims to progress discussions related to a recapitalisation proposal submitted to Ofwat on 2 October 2025 by the London & Valley Water consortium.
| Date | 9 Oct 2025 |
| Time | 14:45:19 |
| Category | Corporate updates |
| ID | 7947C |
Thames Water Utilities Limited
9 October 2025
Recapitalisation Update - Formation of Class B Ad Hoc Group
On 2 October 2025, the London & Valley Water consortium ("London & Valley Water" or "LV&W") announced the submission of its proposal to Ofwat to deliver the turnaround, transformation and recapitalisation of Thames Water (the "L&VW Proposal"). This proposal remains subject to ongoing discussions with Thames Water, Ofwat and other regulators.
London & Valley Water is a large consortium of Class A Creditors of Thames Water comprising pension funds, insurance companies, asset managers and investment funds, which has been progressing discussions for the recapitalisation of the business. L&VW has been established for the purpose of developing and delivering the L&VW Proposal.
In order to progress discussions in regard to the L&VW Proposal, Thames Water invites holders of its Class B debt to form an ad hoc group of lenders. Holders of Class B debt are encouraged to contact Rothschild & Co, as Financial Adviser to Thames Water, to express interest and receive further details, including confidentiality arrangements.
For further information
Rothschild & Co
LEI: 213800JKM5UQHFJOTZ25
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