By Wendy Van Sickle
Columbus, Ohio, Oct. 8 – Heathrow Funding Ltd. priced a C$325 million add-on to its 3.726% notes due April 13, 2035 (BBB+/A-) at 103.649 on Wednesday, according to regulatory notice.
The notes priced with a spread of 52.5 basis points over the Government of Canada Bond Yield.
The notes will be consolidated and form a single series with the C$300 million of the notes issued in April 2021.
Obligors of the notes are Heathrow Airport Ltd., Heathrow (SP) Ltd., Heathrow (AH) Ltd., and Heathrow Express Operating Co. Ltd.
The notes have an issuer call option. They will be listed on the London Stock Exchange’s Official List of the Financial Conduct Authority.
The issuer is the financing arm for Heathrow (SP) Ltd. of the Heathrow Airport Holdings Ltd. group that operates airports including London Heathrow Airport Ltd.
| Issuer: | Heathrow Funding Ltd.
|
| Obligors: | Heathrow Airport Ltd., Heathrow (SP) Ltd., Heathrow (AH) Ltd. and Heathrow Express Operating Co. Ltd.
|
| Issue: | Notes
|
| Amount: | C$325 million add-on
|
| Maturity: | April 13, 2035
|
| Coupon: | 3.726%
|
| Price: | 103.649
|
| Spread: | Canada Bond Yield plus 52.5 bps
|
| Call: | Issuer call option
|
| Pricing date: | Oct. 6
|
| Issue date: | Oct. 8
|
| Ratings: | S&P: BBB+
|
| Fitch: A-
|
| Distribution: | Regulation S
|
| Listing: | London
|
| Total issue size: | C$625 million, including C$300 million issued in April 2021
|
| Cusip: | 42246QAG3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
