Thames Water Utilities Limited
1 April 2025
Thames Water Utilities Limited announces
results of Consent Requests, STID Proposal and accessions to Turnover Deed
On 17 March 2025, Thames Water Utilities Limited ("TWUL") announced the launch of its STID Proposals and Consent Requests. On 18 March 2025, the proposal for the implementation of the turnover arrangements by way of a turnover deed (as amended on 23 March 2025, the "Turnover Deed") was also launched to Participating Super Senior Issuer Creditors and Recovering Creditors (as defined therein). Details of the STID Proposals, Consent Requests and turnover arrangements can be found in the announcement here:
Terms used but not otherwise defined have the meanings given to them in the Consent Requests, the STID Proposals or the Turnover Deed, as applicable.
Approval of Consent Requests, STID Proposals and Update on Turnover Arrangements
TWUL announces today that its STID Proposals were approved with over 95% of the Outstanding Principal Amount of the Qualifying Class A Debt voting in favour.
The Consent Requests have been approved with over 86% of Super Senior Issuer Secured Credit Participations actively voting in favour, and a total consent rate of over 96% (including deemed consent).
Participating Super Senior Issuer Creditors representing 81.65% of the Super Senior Issuer Secured Credit Participations, and creditors collectively representing 81.46% of the Class A Debt, have acceded to the Turnover Deed. Further details can be found on the Kroll Website here:
https://deals.is.kroll.com/thamesturnover
Given the approvals described above, TWUL will now commence the drawing process for the first tranche of funding, with funding being provided in the first few weeks of April.
For further information
Investor enquiries
Edwin Lloyd - Head of Investor Relations
debt.investorrelations@thameswater.co.uk
Media enquiries
Suvra Jans - Head of Media Relations
07747 640810
Alex Simmons
07970 174 353
thameswater@edelmansmithfield.com
This notice is given by:
THAMES WATER UTILITIES LIMITED
1 April 2025
Legal Entity Identifier Numbers:
Thames Water Utilities Limited: 213800JKM5UQHFJOTZ25
Thames Water Utilities Finance Plc: 213800ESMPQ4RQ7G8351
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