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0 0.000451416318699992 -0.000112854079674878 -0.000112854079674878 0.000225708159350076 0.000789978557724945 0.00203137343414972 0.00282135199187451
Stock impact report

Thames Water Creditor Group Picks Advisers After Kemble Default [BNN Bloomberg (Canada)]

Jefferies Financial Group Inc. (JEF) 
Last jefferies financial group inc. earnings: 10/25 04:42 pm Check Earnings Report
Company Research Source: BNN Bloomberg
The investors chose Jefferies Financial Group Inc. as a financial adviser and Akin Gump Strauss Hauer & Feld LLP for legal representation, said people familiar with the matter, who spoke to Bloomberg on the condition of anonymity. The creditors own private and public bonds from Thames Water Utilities Ltd. The moves comes as parent company Kemble Water Finance Ltd. defaulted last week on about £1.4 billion ($1.8 billion) of debt after failing to make an interest payment, the latest escalation in a crisis at the UK's largest water utility. Lenders and bondholders to the operating companies, a ring-fenced group previously seen as insulated from the parent's troubles, have begun coordinating ahead of potential debt talks with the firm. Forming groups would streamline talks and potentially give creditors more clout in dictating terms. A spokesperson for Jefferies declined to comment, as did Thames Water. A representative of Akin didn't immediately return a request for comment. Whi Show less Read more
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