Business The holding company of Thames Water Ltd. says it defaulted after failing to make some interest payments due on its debt. Kemble Water Finance Limited has sent a formal notice of default to the holders of its £400 million bonds due in 2026 as it didn’t pay interest due on Tuesday on some of its other debt, according to a statement. Consultants at Alvarez & Marsal are advising the
UK water and sewage company as it seeks to start talks with creditors over its debt structure. The company is requesting creditors not to take any action, so that it can have the stability to explore “all options,” according to the filing. Kemble expects to be able to provide a further update in the coming weeks. Read more: London's great stink: Sewage flowed into capital's rivers for almost 10,000 hours last year Comment: Thames Water wants to raise prices 40%, spill more sewage and not be fined - after lining shareholders' pockets Will the government be forced to hold its nose and nationalise Thames Water? Shareholder greed is to blame for Thames Water 40% price rise request The Standard View: Thames Water's failings leave a nasty smell Buying a new car? Here's why Omoda needs to be on your radar MORE ABOUT Have your say...