04:07 PM EDT, 04/11/2024 (MT Newswires) -- Barclays ( JJCTF ) and HSBC ( HSBC ) have started to take short interests against Thames Water's debt, a British utility, after its parent company missed an interest payment and triggered a default for one of its bonds, Bloomberg reported Thursday, citing people familiar with the matter.

Traders at Goldman Sach (GS) also have been assisting investors wanting to short Thames Water debt, some of the people told Bloomberg.

The rising short interest on Thames Water debt - now estimated at more than 18% of face value, Bloomberg said, citing S&P Global Market Intelligence data - suggests investors increasingly believe the utility may also see its debt reworked as part of a broader restructuring at Kemble.

The Ontario Municipal Employees Retirement System is Thames Water's largest individual equity investor, with a nearly 32% stake. A UK universities pension fund and an arm of Abu Dhabi's sovereign wealth fund hold nearly 20% and 10%, respectively, of Thames Water equity, according to the company's website.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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