Investors pull out of Heathrow PP amid pricing volatility

By Silas Brown
17 Mar 2020

Three institutional investors pulled out of a private placement for London's Heathrow airport according to market sources, amid pricing volatility due to Covid-19 and as airports take stock of how much the virus will impact their businesses.

Heathrow regularly funds through the US PP market, so much so that it often arranges its own transactions. According to market sources, the UK airport was soft-sounding a potential transaction with the Commonwealth Bank of Australia.

But the deal was complicated by underlying yields being wildly disrupted due to ...

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