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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
HYC
INDS
PRCD
HTHROW
Heathrow Finance PLC£400
1EMEA
Mar 12, 2024
currency
GBP
size (m)
400.000
maturity
Mar 1, 2031
type
Fixed
tenor
7.000
call
0.00
registration
Reg S Only
benchmark
-
ranking
Sr. Secured
moody's
B1
s&p
NR
fitch
BB+
size description
-
re-open/tap
No
ipt
7% area
ipt-pxd
-
guidance
6.625-6.75%, revised from 6.75%-7.00%
spread
262
coupon
6.625%
spread set
-
price
100.00000
yield
6.625%
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
left lead
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Registration: Reg S Only; Comments: B&D: BRC;
Deal Comments
03/12/2024 Heathrow Finance plc (HTHROW) GBP400m (up from GBP350m) Reg S only sr sec notes due 03/01/31 (7y). NCL (MWC G+50bp). (3m par call). B1/NR//BB+ (stable/--/stable). Via Barc (B&D)/BofA/ICBC/JPM/MS jt physical books and jt glocos/CA/GS/SocGen jt passive books. List LSE. English law. Pays March 01 and Sept 01, starting 09/01/24. Settles 03/19 (T+5). ISIN: XS2782148261. IPT: 7% area. Px talk: 6.75%-7.00%. Revised px talk: 6.625%-6.75%. Priced: 6.625% at 100. +262bp vs UKT 0.25% 07/31/31. Virtual roadshow 03/11 (JPM logistics) (investor call at 10:15am UKT 03/11). Books closed at 10am UKT 03/12. Book size over GBP1bn at price talk. UOP: GCP. Privately owned by: Ferrovial S.A., Qatar Holding LLC, Caisse de dépôt et placement du Québec, the Government of Singapore Investment Corporation, Australian Retirement Trust, China Investment Corporation and Universities Superannuation Scheme. Biz: holding company of Heathrow airport, Europe's busiest airport and fourth busiest airport globally. HQ: Hounslow, UK.

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