Deal with Australian investor will see lenders including Ares and Westbourne take significant haircuts on their debt
Heavily indebted UK utility is attempting to strengthen its finances
Bailout comes as funds inject £900mn in new equity into fellow utility Southern Water
Ofwat has not given heavily indebted Thames Water the increase in customer payments it was seeking
UK utility wants to increase average annual household bills to £734 by 2030
Macquarie-owned utility on verge of covenant breach as it loses investment-grade rating
Bond issue documentation shows UK utility under pressure over high financing costs
Threat of drought and water shortages is pushing UK utility to make contingency arrangements
Lawrence Gosden’s total pay rises to £764,000 even as company is ordered to rewrite ‘inadequate’ business plan
Shortage of data raises questions over condition of infrastructure as groups seek sharp increases in bills
Critics say regulator has failed to deliver financial or management discipline
Latest UK water utility to seek additional cash as concerns grow about sector’s financial health
Utilities found tipping into popular English and Welsh bathing spots even during dry periods, new data show
Southern Water and Thames Water singled out for missing targets on supply, pollution and sewer flooding
Plus, funding crunch in UK higher education poses headaches as it weighs on student satisfaction
Only £230mn of £1bn injected into provider last year was used to upgrade operations
Australian infrastructure group is pledging change at utility that reached crisis point this year
A backlash is building over the government’s refusal to clampdown on sewage overflows
Investment comes just weeks after UK water company was hit with record fine for sewage pollution
Southern Water and South West Water ‘again the worst for environmental performance’
Billions of litres poured into sea near Herne Bay and Whitstable beaches and the Beaulieu river
Water provider faces fine after criminal investigation by regulator
Case raises questions about the company’s corporate governance
City regulator and favourite to succeed Mark Carney as Bank governor gave textbook replies
Regulator rules that group deliberately deceived customers over water quality
