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Thames Water Utilities Limited (TWUL) and Thames Water Super Senior Issuer PLC launched a ninth set of consent requests on 9 April 2026, seeking super senior creditors' approval. These requests aim to extend the June Release Condition from 31 March 2026 to 30 April 2026 and to amend the Facility's scheduled drawdown dates and amounts. If granted, TWUL can draw a further £205m in April 2026, with the voting date set for 23 April 2026.
| Date | 9 Apr 2026 |
| Time | 10:00:00 |
| Category | Miscellaneous |
| ID | 8165Z |
Thames Water Utilities Limited
9 April 2026
Ninth Consent Requests relating to Super Senior Issuer Funding
Background
Thames Water Utilities Limited ("TWUL") has so far drawn £1.631bn of the £2.25bn available under the super senior facility (the "Facility") entered into with its subsidiary, Thames Water Super Senior Issuer PLC (the "Super Senior Issuer").
As previously announced, TWUL and the Super Senior Issuer have secured commitments of £823m (being the first £750m tranche of the Accordion plus a shortfall amount of c. £73m[1]) (the "New Commitments"), bringing the total amount which is available and undeferred under the Facility to £2.25bn.
Funding of the New Commitments remains subject to the satisfaction and/or waiver of relevant conditions precedent, some of which, as at today, have not yet been satisfied and/or waived in full, including having a Supported LUA by 31 March 2026 in respect of RP2 (the "June Release Condition").
TWUL continues to work closely with stakeholders to secure a market-led solution.
Ninth Consent Requests
TWUL and the Super Senior Issuer have today launched a ninth set of consent requests (the "Ninth Consent Requests") seeking the consent of the super senior creditors:
· to extend the June Release Condition to 30 April 2026; and
· to make further ancillary amendments to the Facility (as set out in further detail in the Ninth Consent Requests), which (among other things) amend the dates and amounts of scheduled drawdowns under the Facility by TWUL to reflect TWUL's anticipated liquidity needs.
The consents, if granted, will allow TWUL to draw a further £205m of the Facility in April 2026. The Ninth Consent Requests have a voting date of 23 April 2026 and follow eight previous sets of consent requests which were approved by creditors. Voting may close earlier if the requisite majority of super senior creditors vote in favour of the Ninth Consent Requests before the voting date.
Access to Documents
The Ninth Consent Requests are available through TWUL's investor relations website at https://www.thameswater.co.uk/about-us/investors/liquidity-extension-update.
STAKEHOLDERS ARE ENCOURAGED TO REVIEW THE CONSENT REQUESTS IN DETAIL THEMSELVES (COPIES OF WHICH ARE AVAILABLE AT HTTPS://WWW.THAMESWATER.CO.UK/ABOUT-US/INVESTORS/LIQUIDITY-EXTENSION-UPDATE) AND SEEK THEIR OWN LEGAL AND FINANCIAL ADVICE[2] SHOULD THEY HAVE ANY QUERIES IN RELATION TO THEIR CONTENTS.
For further information
Investor enquiries
Fred Maroudas - Director of Corporate Finance
debt.investorrelations@thameswater.co.uk
Media enquiries
Suvra Jans - Head of Media Relations
07747 640810
Alex Simmons
thameswater@edelmansmithfield.com
LEI: 213800JKM5UQHFJOTZ25
[1] The shortfall amount is equal to the undrawn amount under the first tranche of £1.5bn, which arose as a result of commitments being deferred pursuant to the terms of the Second Consent Request: https://www.londonstockexchange.com/news-article/AW14/second-super-senior-funding-waiver-consent-request/17009385
[2] Creditors can contact TWUL to receive details of existing creditor groups and their advisors.