Yorkshire Water has raised £500mn from shareholders, the latest sign of the UK’s debt-laden water companies racing to shore up their balance sheets.
The equity raising, which came this week, is part of a plan outlined in October to inject £940mn in equity over five years and comes on top of £700mn raised from bondholders since February, Yorkshire Water said on Thursday.
Shareholders, which include Singapore’s sovereign wealth fund GIC, German asset manager DWS and private equity group Corsair Capital, agreed to commit cash faster, the company said, describing the capital raise as “better than anticipated”.
Read the full story on the Financial Times here.