Heathrow Funding Ltd (HTHROW) 2020-1

EUR750.0005Oct-25Sr. Secured-BBB+A-VariableSwapsMS+250-260MS+220 a2051.50%599.43300
Tranche Comments
5 yr: Book size: 3700; Registration: Reg S Only; Comments: EUR750m 5yr snr sec RegS, 7yr final con 12mE+400 if not redeemed. BBB+/A-. Actives BNPP/JPM/MS/RBC/Santan(B&D), passives CM-CIC/SMBC Nikko/SG. IPTs MS+250/+260, guidance mS+220 area, launch 750m @ MS+205, bk ~3.7bn (peak ~4bn), OBL 0 10/25 (@103.625) +232.7bp, HR 91%. MWC : B+35. LEI: 7TI96JO3DYEIQWZ7Z726.;
Deal Comments
Active Bookrunners; SNT(B&D), BNP, JPM, MOS, RBC. Passive Boorrunners: CAG, SMB, SOC
Heathrow Airport Ltd, Heathrow(AH) Ltd, Heathrow(SP) Ltd and Heathrow Express Operating Co Ltd
Use of Proceeds
General Corporate Purposes