Manchester Airport uses lack of runway worries to land tight deal

Manchester Airport Group announced itself in the sterling corporate bond market with two deals in two months in 2014. It returned to the market on Wednesday with a print tighter than its two better known rivals.

  • By Nigel Owen
  • 08 Nov 2017

The Baa1/BBB+ rated airport operator paid a single digit new issue premium on its £300m deal with a March 2039 maturity, which meant it priced tighter than the secondary bonds of similar maturities of BBB+ rated Gatwick Airport and A-/A- rated Heathrow.

“Heathrow has traded in line ...

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