Thames shareholders pay up to increase leverage
- From: Vol 9, Issue 2 (February 2008)
- Category: General
- Region: Europe
- Country:
- Related Companies: Barclays Capital and Thames Water
Thames Water has paid off its bondholders to permit it to increase leverage. The extra debt it can raise should come in handy to pay shareholders.
Thames Water’s new owners should be able to raise a further £250 million of debt from this year by paying a one-off bonus of about £8 million to holders of £705 million of the water group’s old debt. Following the acceptance of the proposal by bondholders on 12 February, Thames will now migrate the three bonds involved into ...
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