Last checked at 17 Oct 2018 10:18
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17 October 2018
Heathrow and Export Development Canada (EDC)sign new £200m 10-year loan facility
Heathrow and Export Development Canada ('EDC') signed a new £200m 10-year Class A term loan facility on 27 September 2018. The facility can be drawn up to 12-month after signing.
EDC is Canada's export credit agency and is a self-financing institution. It supports and develops, directly or indirectly, Canada's export trade and Canadian capacity to engage in that trade. A major focus of its international mandate is to support Canadian direct investment abroad.
This transaction marks the first collaboration between Heathrow and EDC and confirms the strength of Heathrow's credit in the Canadian market following two successful Canadian bond transactions priced earlier in 2018 for a total of C$800 million.
The new loan facility contributes to further strengthening Heathrow's liquidity horizon, now extended to December 2020. Proceeds will be used for general corporate purposes.
Sally Ding, Director of Treasury and Corporate Finance said:
"We are delighted to see a high-profile institution such as Export Development Canada joining Heathrow's credit community.
This transaction is a further demonstration of the significant global appetite to invest in Heathrow and contributes to our ongoing efforts to further strengthen our financial resilience and diversify our investor base ahead of expansion."
Olga Vovk, EDC's Senior Regional Manager for Europe, based in London said:
"EDC opened its London representation in 2016 with the intention of building strategic business relationships on the ground and increasing investment in quality UK assets, with a view to supporting Canadian exporters and Investors."
"This £200m financing for Heathrow - a top-tier infrastructure player with significant opportunities for growth - is a big step forward for us in the UK market and we are delighted to be taking it with such a strong partner."
For investor enquiries please contact James Hoskins on +44 20 8745 0811
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act") except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act. There will be no public offer of the securities in the United States.