Heathrow places 250m bond
 
Wed, 8th October 2014
 
 

Heathrow places £250m bond

Heathrow Finance has successfully placed a 10.5-year bond worth £250m.

The group said the transaction was "well supported with a good mix of high yield and investment grade participants".

Heathrow plans to use the proceeds of the bond to repay an £85m loan facility and for general corporate purposes. The bond has a March 2025 maturity and a fixed coupon of 5.75 per cent.

Andrew Efiong, Heathrow's director of treasury, said: "We are very pleased with the continued support for Heathrow in the debt capital markets. This transaction successfully extends our maturity profile at this level of the capital structure and the mix of investors reflects continued market confidence in the Heathrow credit.

"This means that Heathrow has raised well over £1.5bn of external capital in 2014 alone. Consistent access to finance on this scale is enabled by Heathrow's multi-billion global debt financing platform, which has been critical to funding Heathrow's transformation over the last decade.

"And this platform will continue to be crucial in financing significant further investment at Heathrow in the years ahead, supported by the credibility of being by far the largest wholly privately financed airport globally."

 
 
category South East  |  source Insider Media