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Thames Water's Financial Crisis

JP Morgan and Bank of America hire lawyers amid Thames Water's financial crisis, involving complex debt structures and potential nationalization.

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English

United Kingdom

UkFinanceRegulationDebtBankingInsolvency

Jp MorganBank Of AmericaThames WaterOfwatSimpson Thacher

What is the main conflict regarding Thames Water's financing?: A group of class B debtholders proposed a £3bn emergency financing plan as an alternative to a more expensive plan from class A bondholders, creating a conflict.
Which two major banks have hired legal representation regarding Thames Water?: JP Morgan and Bank of America, holding financial instruments (swaps) in Thames Water, have hired lawyers due to the escalating battle for the company's future.
What is Thames Water's current financial state and what are the potential outcomes?: Thames Water, facing potential insolvency and nationalisation, is negotiating with Ofwat, the industry regulator, over its spending plans and is struggling to secure funding from shareholders.
What are the key aspects of the Thames Water situation that highlight its complexity?: The situation involves a complex interplay of financial instruments, creditor groups, and regulatory oversight, highlighting the challenges faced by a major water utility.
What type of financial instruments do these banks hold in Thames Water's structure, and what is their priority in case of insolvency?: The swaps held by the banks are considered a conventional part of Thames Water's financial structure and rank higher than other creditor claims in case of insolvency.

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