Thames Water Needs £10 Billion Under Elliott, Silver Point Plan
Funds including Silver Point Capital and Elliott Management are working on a rescue plan for British utility Thames Water that would total more than £10 billion ($13.5 billion), according to people familiar with the matter.
The proposal, the main terms of which are similar to the one presented by US alternative investor KKR & Co. before it walked away from its planned investment this week, would involve a sweeping debt restructuring. There would be a multibillion pound haircut for senior creditors, the people said. That would be on top of cuts for the utility's more junior Class B bonds and loans, as well as for debt at the holding level, amounting to approximately £3 billion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
2 hours ago
- Bloomberg
Abrego Garcia Returns to US to Face Charges
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Mary Lovely, Senior Fellow at the Peterson Institute for International Economics, shares her thoughts on what to expect Monday as US and Chinese negotiators will resume trade talks in London. Leon Panetta, Former US Secretary of Defense, voices his concerns about the US Supreme Court giving DOGE access to social security data after Elon Musk and President Trump's feud. Zeke Hernandez, Associate Professor at the University of Pennsylvania's Wharton School, discusses Kilmar Abrego Garcia being brought back to the United States to face criminal charges. (Source: Bloomberg)
Bloomberg
3 hours ago
- Bloomberg
US-China Future, Cheap Gas, UK Losing Millionaires, Investing in Big Law
This week, former Treasury Secretary Lawrence H. Summers and Hoover Institution's Niall Ferguson debate US and China's "hostile codependence." And, as President Trump touts lower gasoline prices, some experts explain why it's concerning. Plus, more millionaires in the UK are packing their bags for Italy, but will it be for good? Later, how will private equity change Big Law? (Source: Bloomberg)
Bloomberg
3 hours ago
- Bloomberg
Bloomberg Businessweek Daily: US-China Meeting Planned
Watch Carol and Tim LIVE every day on YouTube: US and Chinese negotiators will resume trade talks on June 9 in London, President Donald Trump announced, as the world's two largest economies look to resolve a simmering dispute over tariffs and technology that has unnerved markets. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will meet Monday 'with Representatives of China, with reference to the Trade Deal,' Trump posted Friday on social media. 'The meeting should go very well.' The new round of talks follow a 90-minute call between Trump and Chinese leader Xi Jinping on Thursday that saw the two agree to defuse growing tensions spurred by concerns over the flow of critical minerals needed by American firms. Earlier talks between the two countries in Switzerland in May resulted in a tariff truce between Beijing and Washington that set the stage for further talks on trade. But negotiations between the rivals stalled after the Geneva meeting, with both sides accusing the other of violating the agreement that brought down duties from massive highs. Today's show features: Bloomberg Balance of Power cohost Joe Mathieu Phil Gramm, Economist and former Republican US Senator from Texas Gary Bettman, Commissioner of the National Hockey League on the Stanley Cup Finals
