Kemble under pressure over Thames securitisation
- From: Vol 8, Issue 7 (July 2007)
- Category: General
- Region: Europe
- Country:
- Related Companies: Barclays Capital, Kemble, Macquarie and Thames Water
The secured debt package to refinance the Thames Water acquisition may cost the Kemble consortium more than it had bargained for. Andrew Cavenagh reports.
The Kemble consortium is under some pressure to launch its much-anticipated £4.5 billion securitisation, with which it will refinance most of the acquisition debt for Thames Water, before mid-September.
If the Macquarie-led group fails to meet this deadline, it will have to seek the consent of those holding £1.2 billion of Thames bonds that were issued just ahead ...
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