Thames Water, Creditors Offer Pimco a Compromise on New Debt

Thames Water and some creditors offered Pacific Investment Management Co. a compromise in exchange for Pimco's endorsement of a plan to raise £2.4 billion ($3.2 billion) of new debt. The proposal aims to resolve a standoff over the utility's financing, with Pimco's backing seen as key to unlocking the capital raise. Details of the compromise were not disclosed.