00:00So far, creditors representing more than £12bn have signed up to the agreement, with Thameswater
00:07hoping to get further support from lenders.
00:09It comes just weeks after Thameswater announced its controlling lenders have agreed another
00:15£2.4bn of funding to save it from running out of cash at the year-end.
00:21The funding comes on top of an existing £3bn emergency loan and has given it enough money
00:28to keep running until autumn 2027, together with its latest announcement on debt repayments.
00:34This has extended the runway needed for Thameswater to strike a rescue deal.
00:40Thameswater said the signing of the transaction support agreement is an important milestone
00:45in Thameswater's progress towards a recapitalisation.
00:50The rescue plan by the consortium, called London and Valley Water, is seen as the final realistic
00:56option to avoid Thameswater being placed into a special administration regime after a previous
01:03rescue deal with US private equity giant KKR collapsed in May last year.
01:10But there have been mounting calls for Thameswater to be brought back into public control, with
01:16the Environment, Food and Rural Affairs Committee saying in September that London and Valley's
01:22Thameswater's takeover plans should be ditched, claiming they do not have the interests of
01:26the public, the company or the environment at heart.
01:29Whereas the councillors came on in porque it is still too well and open the conversations
01:29.
01:29During this session, itaterallyинаriage has been discussed during this session for The
