Thames Water Utilities Limited has secured approximately £667 million in new funding commitments, raising its total super senior facility to £3 billion.
The new commitments represent the remaining portion of the second £750 million tranche under the facility established in 2025. Of the total £3 billion committed, £2.25 billion has been funded, with approximately £73 million deferred. The company is seeking to draw down £400 million of the new commitments, while also requesting approval for a £230 million drawdown in September.
The funding remains subject to the satisfaction or waiver of certain conditions, including obtaining a Supported Licence Undertaking for the 2025 regulatory period (RP2), some of which are outside the company’s control. Thames Water launched the funding allocation process on July 16 and has submitted parallel consent and waiver requests to enable the drawdowns. These requests, which follow 12 previously approved sets of consent requests, seek to waive specific conditions and permit the specified drawdowns.
The voting deadline for the current consent requests is September 8, though it may close earlier if the required majority of creditors approves the proposals in advance. The company’s requests also aim to extend the June Release Condition to September 30. Thames Water continues to work with stakeholders to secure a market-led solution to its financial challenges.
