Thames Water appoints advisors to tackle £14bn debt

The water supplier has reportedly selected advisors to explore financing options for the company

Thames Water has reportedly enlisted the help of advisors to tackle its £14 billion debt burden, amid mounting concerns that the company may be unable to fix its financial situation.

According to Sky News, the UK’s largest water supplier has engaged investment bankers from Rothschild and law firm Slaughter & May to assess “financing options for the company”.

The appointment of these advisors follows criticism from members of the public and political figures over Thames Water’s handling of sewage leaks.

Sources within the industry have revealed that both Ofwat, the regulator of the water industry, and the government are “aware of growing concerns about its financial position”.

A Thames Water spokesperson told ELN: “Debt information is publicly available in our investor report, the latest version of which can be found on our website here and was published in December 2022.

“As of 30 September 2022, the net debt figure (on a covenant basis) for Thames Water Utilities Limited was £14.3 billion. Details of the maturity breakdown can be found on graph 1 of page 14.

“A further update of the net debt position will be provided in our 2022/23 Annual Report which we expect to be published in July 2023.”

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