Last checked at 25 Jan 2016 15:33
News Release | Heathrow (SP) Limited |
The Compass Centre, Nelson Road, | |
Hounslow, Middlesex TW6 2GW | |
T: +44 (0)20 8745 7224 | |
E: investors@heathrow.com | |
W: heathrow.com |
Not for release, publication or distribution in whole or in part, directly or indirectly, in or into the United States of America.
25 January 2016
Strong demand from Swiss investors for
Heathrow's CHF400 million 8 year bond
Heathrow has successfully re-opened the European corporate bond markets today, with a Swiss franc 400 million Class A bond which has a fixed coupon of 0.5% and a May 2024 maturity.
Appetite from Swiss investors for Heathrow was strong, with the final size of the bond increased to Swiss franc 400 million to accommodate the demand. The bond was placed with institutional investors as well as private banks and builds on Heathrow's presence in the Swiss market. Given the significant demand, the bond priced inside initial guidance at 58 basis points over the mid-swap rate. This is the second bond Heathrow has issued in Switzerland and proceeds will be used for general corporate purposes.
The transaction which is equivalent to £277 million takes the total raised over the last year by Heathrow in public and private markets to £1.5 billion.
Andrew Efiong, Director of Treasury said: "We are delighted with the strong reception received from Swiss investors today, especially with the difficult global market conditions this year. This is testimony to the strength and resilience of Heathrow, with investors valuing the high quality of the business, the transparency of information we provide and our ongoing engagement with the market."
For investor enquiries please contact Anne Hurn, Deputy Treasurer on +44 20 8745 9947
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.