Thames Water Utilities Ltd and its subsidiary, Thames Water Super Senior Issuer PLC have launched a fifteenth set of consent requests seeking access to £170 million in further funding in October.
The water company and the Super Senior Issuer PLC are seeking the consent of the super senior creditors to:
- extend the June Release Condition to 31 October 2026; and
- make further ancillary amendments to the Facility, which (among other things) amend the dates and amounts of scheduled drawdowns under the Facility by Thames Water to reflect the company’s anticipated liquidity needs.
If granted, the consents will allow Thames to draw a further £170 million of the Facility available to it in October 2026.
The Fifteenth Consent Requests have a voting date of 13 October 2026 and follow fourteen 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 Fifteenth Consent Requests before the voting date.
Thames Water has so far drawn £2.48 billion of the £3 billion available under the super senior Facility entered into with its subsidiary, Thames Water Super Senior Issuer PLC.
As previously announced, Thames Water and the Super Senior Issuer have secured Accordion commitments of £1.5 billion (the "New Commitments"), which in addition to the £1.5 billion of commitments originally made available, brings the total amount which is available under the Facility to £3 billion.
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 30 September 2026 - the June Release Condition.
Thames Water says it is continuing to work closely with stakeholders to secure a market-led solution.
As set out in the Company’s Annual Report 2025/26, the company expects to launch further consent processes in due course to seek consent to increase the Super Senior Funding by £2.4 billion in multiple tranches.
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