Heathrow 15 year suffers bumpy take-off

By Nigel Owen
29 Jun 2017

On Wednesday, Heathrow returned to the euro bond market for the first time in over two years, with rates volatility providing a turbulent backdrop for the deal.

The UK airport company printed the third long-dated tranche of the week, a €500m 15 year deal.

Lead managers Deutsche Bank, Morgan Stanley, National Australia Bank and Santander set initial price thoughts at 80bp over mid-swaps. Heathrow’s last euro deal was a €750m 15 year issued in February ...

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