A £3bn rescue loan for Thames Water is set to go ahead after an appeal against the deal was dismissed. The troubled firm secured the rescue loan in February to stave off the prospect of the debt-laden company coming under government control. But a small group of lenders had argued against the terms of the deal. This extra funding allows Thames to continue operating for at least another 12 months, giving it time to restructure its nearly £20bn in debt and try to attract new investment. The reasons for the Court of Appeal’s decision are yet to be released. Thames Water’s chief executive Chris Weston said he was “pleased” with the decision. The initial tranche of £1.5bn would be provided in instalments over the coming months.
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