Thames Water creditors to vote on emergency £2.4bn loan as cash runs low

Campaigners say costly new funds will lead to higher bills, which company denies

A group of creditors to troubled Thames Water are poised to vote on whether to grant an emergency £2.4bn loan to keep the company afloat, as campaigners raise concerns it could add £40 to each household’s bills in interest alone.

A consortium of creditors, called London & Valley Water, will vote on Thursday on whether to increase a funding facility for the debt-laden utility company to £5.4bn to keep it operating to autumn 2027.

The company’s class A creditors, which include BlackRock, Elliott Management and Silver Point Capital, last year granted it a £3bn loan at a 9.75% interest rate.