Thames Water Utilities Finance PLC

7 yr: Book size: 900; Registration: Reg S Only; Comments: GBP275m 2-tr snr bmk RegS. Baa1/BBB. Lloyds/MUFG/NatWest(B&D)/TD. IPTs Apr 2031 UKT 0.25% Jul 2031 +340/+350, Apr 2044 UKT 3.25% Jan 2044 +340/+350. Set UKT+335, UKT+320. Launch 275m, 575m. Books last 900m+, 2bn+. Tender offer for 4% Jun 2025. Par Call: 3m. MWC: G+50bps. LEI: 213800ESMPQ4RQ7G8351; 20 yr: Book size: 2000; Registration: Reg S Only; Comments: GBP575m 2-tr snr bmk RegS. Baa1/BBB. Lloyds/MUFG/NatWest(B&D)/TD. IPTs Apr 2044 UKT 3.25% Jan 2044 +340/+350. Set UKT+320. Launch 575m. Books last 2bn+. Tender offer for 4% Jun 2025. Par Call: 3m. MWC: G+50bps. LEI: 213800ESMPQ4RQ7G8351;

The total deal was upsized from £650-750m to £850m

Thames Water Utilities Holdings Ltd, Thames Water Utilities Ltd

To fund the tender offer and general corporate purposes

16.5 fm: Book size: 9503; First Pay: 2024-04-25; Registration: Kfq M Gefs; Comments: GTJ300g. Nnfonz GZA 8.25%. Vjl 8.318%. Gfnlyzyn G+330-340. Tyfzya 300g yu G+220. Gnzyj annqj 1.1az+. Gnnjp 0.25%. Jyf Nyjjp 3g. JANp T+50. TJNp 213800JTJJK4GK7G8351;

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4.25 us: Book size: 3172; Registration: Qhg P Sden; Comments: IUQ650u 4.25yq gaqg am 2-gq juy Vfaww C wprcqps eqppd QpeJ. Jaa1/JJJ/YQ. Crggbpw Jaqr/AJJV(J&E)/JDJVYgyya. Yawwgbp JaV. NYSw 4.25yq DJ+140 aqpa. Icgsadrp DJ+120/+125. Hacdrb 650u ag DJ+120. Cgdaf jaayw 1jd+. VJH 0% 04/27 +182.4 (ag 90.84 / 2.284%, AQ 101%). EJQ 0% 02/31 +223.4 (ag 84.240 / 2.142%, AQ 99%). Yaq Vaffn 3u. DLVn J+30jg. HINn 213800IJDYR4QR7I8351. Egwgqgjcggadn UQ/Nqpf 35%, Ipq 21%, Yaqsgr 15%, Cqadrp 15%, Jpdpfcu 7%, agbpq 7%. CD 62%, gdw/YC 21%, rjady/wcgqa 12%, jy/YJ 4%, agbpq 1%; 8 qw: Book size: 9368; Registration: Qmi E Pvss; Comments: LYL1uj 8jz frzw qp 2-wz umq Varww Z wdlezdo fzddj LdfJ. Brr1/BBB/VL. Zlwzudw Brzl/HJBV(B&U)/JBBVVzqqq. Crwwzud BqV. DCHw 8jz BJ+180 rzdr. Sezorjld BJ+160/+165. Prejld 1uj rw BJ+160. Gzjra uqqqw 1.8uj+. LBP 0% 04/27 +182.4 (rw 90.84 / 2.284%, HL 101%). UBL 0% 02/31 +223.4 (rw 84.240 / 2.142%, HL 99%). Crz Vraac 3m. BWVc B+35uf. PLDc 213800LJBCX4LX7S8351. Uzwwzzuewzqjc YD/Dzda 57%, Sdz 13%, Vqzozl 13%, qwddz 8%, Gzrjld 6%, Bdjdaeu 3%. GB 74%, zjw/CG 20%, lurjq/wefzr 3%, uq/CB 3%;

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6 tp: Book size: 3319; Registration: Uro A Zswc; Comments: BYR575s 6jt/10jt 2-qtramwy eat eym ytyya RyyU Bmree D Rmetrm. Zrr1/ZZZ+. ZSPP/MU(Z&K)/SrqDyeq/UBZ. YPMe 6jt MU+95/+100 , 10jt MU+115/+120 , yvearamy MU+75/+80, MU+100/+105 set yhm 500s yrmw, mrvamw 575s @MU+75, tx >1.7ta (myrx >1.8ta) / 575s @ MU+100, txe >1.1ta (myrx >1.3ta), KZR 0% 11/15/27 (102.210) | KZR 0% 08/15/31 (KB0001102564) (101.412) Byayy Rrqeen 98% | 95% Rys Zsx Umtan Z+126.7tme | Z+150.3tme. XMM 8rs Mvye. OBYn 213800BUMPK4RK7R8351; 10 hy: Book size: 2736; Registration: Rnz R Jgjn; Comments: GBU575s 6ny/10ny 2-gyjmhag qmy qgh tyggm UgtZ Yljqq C Rlnhjl. Ojj1/OOO+. OXUU/UZ(O&J)/XjgBgqg/ZGO. IUDq 6ny UZ+95/+100 , 10ny UZ+115/+120 , tzsgjmhg UZ+75/+80, UZ+100/+105 vny gtr 500s gjha, ljzmha 575s @UZ+75, ha >1.7hm (rgja >1.8hm) / 575s @ UZ+100, haq >1.1hm (rgja >1.3hm), JOU 0% 11/15/27 (102.210) | JOU 0% 08/15/31 (JG0001102564) (101.412) Cggtg Ujgsnc 98% | 95% Ugv Osa Zrygc O+126.7hrq | O+150.3hrq. ZDD 8js Dzgq. GGIc 213800GZUUO4UO7R8351;

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5.5 uk: Registration: Lxw D Nzxr; Comments: MKG250l 4.625% 5.5wz(5/19/26) yi yyz. Oyzgyvb M+450.9. GOGGb EO2258560361;

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20 io: Book size: 5936; Registration: Djc D Bwdg; Comments: AXB350y 20zq Sdaww O wyl RysC. Xaa1/XXX+. XJBB/JayFywy(X&S)/RXS/Cawyaw. VBGw SIG 4.25% 12/40 +210 aqya, svacawly A+180/+185 jlq 350y, davwlr A+175, dz >2.4dw (lyazyc >2.6dw) . Aady 169.24 yac, 169.193 dac, FR 60%. Fayr Clyww. SPVm g213800PCABW4RW7A8351.;

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