Investors calculated that it would take £8bn of fresh equity to comply with Ofwat conditions
Separating punishment for past sins from future investment should be the priority
Australian group had been criticised for loading UK utility with debt
Investors should stop using an approach that many have long regarded as fundamentally flawed
Formal notice to bondholders fires starting gun on complicated debt restructuring
Plus, Switzerland blocks documents from AT1 bondholders and Blackstone sells a high-fashion building
Bank of China and ICBC in a group of four banks behind £190mn loan that matures end of April
The utility’s owners are to begin urgent restructuring talks
Disclaimer: it’s not simple, nor a trick
Political headache intensifies for Sunak as utility’s parent company Kemble dices with insolvency
England’s experiment with privatising natural monopolies has misfired
Utility wants to raise bills by 56% by 2030 in effort to stop investors walking away
UK’s biggest water utility, the government and Ofwat are at an impasse over its finances
The founder of collapsed crypto exchange FTX was sentenced for fraud
Plus, Elliott’s caught in an AC Milan legal battle and Byju’s investors try to oust its founder
Investors say regulatory conditions make utility’s business plan ‘uninvestable’
Organisers say teams have been briefed to ensure they are ‘as safe as possible’ after high levels of E. coli found due to sewage discharges
The utility’s nine shareholders and regulator Ofwat have moved firmly beyond bluff tactics
Shareholders refuse to confirm they will make fresh equity injection
The prime minister’s business aide is overseeing efforts to avert the utility’s potential failure
Without fresh equity the UK utility would have to slash costs and investment and focus squarely on cash preservation
Regulator has new options to take away investors’ ownership of water companies while leaving them dealing with debt
Water company seeks to avoid government bailout as officials make contingency plan for its failure dubbed Project Timber
City veteran will stay as chair of regulated entity as utility faces financial pressures
New rules provide more options for special administrators to restructure groups unable to repay their debts
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