Thames refinancing raises leverage questions

Macquarie has ambitious leverage targets for its new protégé. The outcome of the Kemble loan refinancing could have knock-on effects elsewhere in the sector.

Macquarie has ambitious leverage targets for its new protégé. The outcome of the Kemble loan refinancing could have knock-on effects elsewhere in the sector.

The group of financial investors that paid £8 billion for Thames Water last year will struggle to restructure the company along the same lines as highly geared companies in the sector.

The Kemble consortium, led ...

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