Fly-by bond for Heathrow holding company

By Owen Sanderson
12 Nov 2019

Heathrow Finance, the holding company for Europe’s largest airport, brought a £250m 10 year bond to market on Tuesday, with global co-ordinators Barclays, BNP Paribas and ING, announcing the bullet maturity deal with no roadshow or marketing effort. The deal was priced through talk and increased to £300m.

The bonds are senior secured liabilities of Heathrow Finance — but this is only a holding vehicle whose sole asset is shares in the corporate securitization wrapping Heathrow Airport, a common structure in UK infrastructure assets.

The secured debt, through Heathrow Funding, is rated A- for the class ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.