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Thames Water: Next Steps

UTILITIES
  • Thames CEO Chris Weston comments on a call with journalists.
  • Thames will work on its business plan ahead of Ofwat’s draft decision in June.
  • Thames will then again seek new equity from the shareholders. If unsuccessful they will seek external equity.
  • Thames has £2.4bn in cash covering 15 months of operations. They will also look to raise new debt.
  • Not much price movement since this morning with £/€ ringfenced bonds up to 40 wider, Kemble bonds 11 points lower at ~17.5c.

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