However, the funds available to the company are further reducing. Thames Water Utilities Ltd has so far drawn £2.037 billion of the £2.25 billion available under the super senior facility entered into with its subsidiary, Thames Water Super Senior Issuer PLC.

As previously announced, TWUL and the Super Senior Issuer have secured commitments of £823 million - the first £750 million tranche of the Accordion plus a shortfall amount of c. £73 million, bringing the total amount which is available and undeferred under the facility to £2.25 billion.

Funding of the New Commitments remains subject to the satisfaction and/or waiver of relevant conditions precedent, some of which have not yet been satisfied and/or waived in full. These include having a Supported Liquidity Extension Update (LUA) by 30 June 2026 in respect of a second restructuring plan RP2 - known the June Release Condition.

Thames Water says it continues to work closely with stakeholders to secure a market-led solution.