Southern Water to Tap King Street-Led Funding to Refinance Debt
Southern Water Ltd. is set to tap new funds from a group of investors led by King Street Capital Management to refinance some of its safer debt and stabilize its finances.
With £350 million ($467 million) of notes due next March, Macquarie Asset Management-backed Southern Water recently secured the support of the debt investors to buy £800 million of new bonds that the company plans to issue, according to people familiar with the matter who spoke on the condition of anonymity.
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