By Cristal Cody
Tupelo, Miss., March 1 – Heathrow (SP) Ltd. priced C$400 million of 3.4% class A bonds due 2028 on the tight side of guidance at a spread of 115 basis points over the Government of Canada benchmark on Thursday, according to a news release.
The deal had nearly C$1 billion of demand. Additional pricing details were not immediately available.
Proceeds from the transaction will be used for general corporate purposes.
The issuance is Heathrow’s fourth bond offering in Canada since 2012.
The company is part of Heathrow Airport Holdings Ltd., which operates airports including London Heathrow Airport Ltd.
| Issuer: | Heathrow (SP) Ltd.
|
| Amount: | C$400 million
|
| Maturity: | 2028
|
| Securities: | Bonds
|
| Coupon: | 3.4%
|
| Spread: | 115 bps over Government of Canada benchmark
|
| Pricing date: | March 1
|
| Distribution: | Canada
|
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