All material subject to strictly enforced copyright laws. © 2021 Euromoney Institutional Investor PLC group
Corporate BondsHigh yield

Heathrow asks bondholders to switch to minimum cash covenant

empty heathrow adobe sotck 575x375

Heathrow is asking its high yield creditors to waive covenants it expects to breach this year in a return for a new commitment to a minimum cash level, a boost to coupon payments and a cancellation of any dividends, as it grapples with an 81% dive in earnings.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree