Thames Water chronicles: Second greenlight for expensive debt & 6 bidders vying for a piece

Embattled UK utility Thames Water has narrowly escaped "special administration" for the second time and is understood to be courting six bidders for a much-needed capital injection, with hopes to formulate a capital markets solution by June [2025] in a bid to parry government intervention. The legal challenge against the £3 billion (€3.57bn $3.89bn) short-term debt package to tide the company over for a few months was thrown out by the Court of Appeal yesterday [18 March 2025] with a written rationale for the decision expected to be published "in due course". Without the short-term debt, the company would have exhausted its available resources by next week [24 March 2025], forcing government intervention.