Heathrow asks bondholders to switch to minimum cash covenant

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Heathrow asks bondholders to switch to minimum cash covenant

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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.

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