NATS (En Route) PLC (NATS)

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NATS (En Route) PLC (NATS)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	INDS	PRCD	NATS	NATS (En Route) PLC	£145		1	EMEA	Mar 7, 2023

Tranche #1NATS (En Route) PLC

currency

GBP

size (m)

145.000

maturity

Sep 30, 2033

type

Fixed

tenor

10.500

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

s&p

A+

fitch

size description

re-open/tap

Yes

ipt

G+150 a

ipt-pxd

guidance

130

spread

128

coupon

1.75%

spread set

price

72.75000

yield

5.166%

book size (m)

800

peak book (m)

x-covered

5.52

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

800

peak book (m)

x-covered

5.52

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

10.5 yr: Book size: 800; Registration: Reg S Only; Comments: GBP145m (upsized from GBP135m) tap of 1.75% Sep 2033 bmk snr unsec RegS. A2/A+. Barc/BNPP(Log)/Lloyds/NatWest(B&D). IPTs UKT 0.875% 07/33 (mid) +150 area, guidance UKT +130 (+/-2 WPIR), launch UKT +128 for 145m. Books 800m+. UKT 0.875% 07/2033 @ 74.912 mid, 74.882 bid (HR 93%). FTT: 2:05pm. New Total: 445m. Par Call: 3m. MWC: G+15bps. Regulatory Call: Yes. LEI: 213800AOOCT6JKFY6Z68;

Deal Comments

GBP145m tap of GBP300m 1.75% due 9/30/2033

Use of Proceeds

Refinancing and general corporate purposes

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