Thames Water lenders have called on investors to back a £1.5 billion cash injection aimed at keeping the supplier afloat.
A group including BlackRock, Abrdn and M&G on Monday urged others to take part in the plan, according to a PA report, which was proposed last week.
The group of 100-plus investors collectively hold £12 billion in Thames’ class A debt and have already agreed to backstop the lifeline.
Proposed funding would effectively guarantee Thames' operations until October 2025, after warnings from London's water supplier that cash could run out in the coming months.
A spokesperson for the creditors said would be “a critical step in stabilising the company”.
“This facility is open to all creditors and we want as many institutions as possible to support the company’s turnaround efforts,” they added.
“Our creditor group is working intensively with the company to develop a plan that will ultimately lead to a restructuring that unlocks billions of pounds in new investment capital and helps deliver the improved service that customers and the environment deserve.
“We want to work constructively with all parties to give Thames the best opportunity to attract the new equity it needs and allow for a full recapitalisation and successful turnaround.”