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Thames Water Utilities Finance Plc - Tender Offer (XS) - Launch

Thames Water Utilities Finance plc announces a Tender Offer in respect of its Class A £500,000,000 4 per cent. Guaranteed Unwrapped Bonds due June 2025* (ISIN: XS1078777114) and proposed issue of new sterling denominated fixed rate notes (the "New Notes")

22 JANUARY 2024


Full announcement including disclaimers and offer restrictions available via Lonse


22 January 2024. Thames Water Utilities Finance plc[1] (the "Company") announces today an invitation to the holders of its outstanding Class A £500,000,000 4 per cent. Guaranteed Unwrapped Bonds due June 2025 (ISIN: XS1078777114) (the "Notes") to tender their Notes for purchase by the Company for cash (the "Offer").

The Offer is being made on the terms and subject to the conditions including, without limitation, the New Financing Condition (as defined below), contained in a tender offer memorandum dated 22 January 2024 (the "Tender Offer Memorandum") prepared by the Company, and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum.


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Summary of the Offer



Rationale for the Offer


The purpose of the Offer and the planned issuance of New Notes (as defined below) is, amongst other things, to optimise the Company's debt maturity profile. Furthermore, the Offer will provide liquidity to those holders whose Notes are accepted and purchased in the Offer.

The Company intends to cancel any Notes purchased by the Company pursuant to the Offer following the Settlement Date (as defined below)."


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Thames Water Utilities Finance plc announces a Tender Offer in respect of its Class A £500,000,000 4 per cent. Guaranteed Unwrapped Bonds due June 2025* (ISIN: XS1078777114) and proposed issue of new sterling denominated fixed rate notes (the "New Notes")

22 JANUARY 2024


Full announcement including disclaimers and offer restrictions available via Lonse


More information to follow later today. For the full announcement, please visit the London Stock Exchange website.

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