HTHROW 4.125% 01Sep2029 Corp (GBP)

Bond Factsheet

Heathrow Finance PLC

Indicative

Full Lot

Bid Price

93.144

Change in Bid Price

remove 0.121

Bid Yield (%)

6.685 %

Change in Bid Yield

0.047

Ask Price

94.039

Change in Ask Price

remove 0.122

Ask Yield (%)

6.338 %

Change in Ask Yield

0.047

Indicative price as of 05 Oct 2026, 4:00pm

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Bond Information

Heathrow Finance PLC operates as a special purpose entity. The Company offers airport services, flights, cargo handling, and other related services. Heathrow Finance serves clients in the United Kingdom.

Bond Issuer

Heathrow Finance PLC

Guarantor

Announcement Date

12 Nov 2019

Issue Date

19 Nov 2019

Maturity Date

01 Sep 2029

Years to Maturity / Next Call

2.908 / -

Modified Duration

2.666 @ 02 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.125

Coupon Type

Fixed

Annual Coupon Rate

4.125

Coupon Frequency

Semi Annually

Seniority

First Lien

Reference Rate

ISIN

XS2081020872

CUSIP

ZQ5782185

Bond Currency

GBP

Total Issue Size

300,000,000

Min. Investment Quantity (Nominal)

GBP 100,000

Incremental Quantity (Nominal)

GBP 1,000

Bond Type

High Yield Corporate

Bond Sector

Industrials

Bond Sub Sector

Transportation Infrastructure

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ BB+

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Coupon Step

Conditional Coupon Step Down

Make Whole Call

At any time, upon not less than 10 nor more than 60 days notice, the Issuer may redeem all or some only of the Notes at a redemption price equal to 100 per cent. of the principal amount thereof plus if the redemption date occurs more than 3 months prior to the Maturity Date, the Applicable Redemption Premium and, in each case, accrued and unpaid interest, if any, to but excluding the redemption date.

“Applicable Redemption Premium” means, with respect to a Note on any redemption date prior to 1 June 2029, the greater of:

(a) one per cent. of the principal amount of such Note on such redemption date; and

(b) the excess of:
(i) the present value at such redemption date of the redemption price of such Note at 1 June 2029, plus all required interest payments that would otherwise be due to be paid on such Note during the period between the redemption date and 1 June 2029, excluding accrued but unpaid interest, computed using a discount rate equal to the Gilt Rate at such redemption date plus 50 basis points, over

(ii) the principal amount of such Note on such redemption date

Change Control Put

If a Change of Control occurs at any time, then the Issuer must make an offer (a “Change of Control Offer”) to each Noteholder to purchase such holder’s Notes, at a purchase price (the “Change of Control Purchase Price”) in cash in an amount equal to 101 per cent. of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of purchase described in paragraph (b) below (the “Change of Control Purchase Date”).

“Change of Control” means the occurrence of any of the following events:

(a) prior to the consummation of an initial Public Equity Offering, the consummation of any transaction (including a merger or consolidation) the result of which is that any person or any persons acting in concert, other than one or more Permitted Holders, are or as a result of such transaction become interested in more than 50 per cent. of the total voting power of the Voting Shares of the Issuer;

(b) on and after the consummation of an initial Public Equity Offering, any person or any persons acting in concert, other than one or more Permitted Holders, are or as a result of such transaction become interested in more than 35 per cent. of the total voting power of the Voting Shares of the Issuer and the Permitted Holders, individually or in the aggregate, are not interested in a larger percentage of the total voting power of such Voting Shares than such other person or persons acting in concert;

(c) the sale, transfer, conveyance or other disposition of all or substantially all the assets (other than Shares, debt or other securities of any Subsidiary that is not a Subsidiary Group Company) of the Issuer and the Subsidiary Group, on a consolidated basis, (i) if following such sale, transfer, conveyance or other disposition, the transferee entity is not listed on a stock exchange or automated quotation system and any persons or persons acting in concert, other than one or more Permitted Holders, are or as a result of such sale, transfer, conveyance or other disposition become interested in a larger percentage of the total voting power of the Voting Shares of the transferee entity than the Permitted Holders, individually or in the aggregate or (ii) if the transferee entity is and is expected to continue to be listed on a stock exchange or automated quotation system following such sale, transfer, conveyance or other disposition (A) any person or any persons acting in concert, other than one or more Permitted Holders, are or as a result of such transaction become interested in more than 35 per cent. of the total voting power of the Voting Shares of the transferee entity and (B) the Permitted Holders, individually or in the aggregate, are not interested in a larger percentage of the total voting power of such Voting Shares than such other person or persons acting in concert;

(d) the Parent or the Issuer is liquidated or dissolved or adopts a plan of liquidation or dissolution other than in a Permitted Transaction;

(e) the Parent or any Surviving Entity ceases to beneficially own, directly, 100 per cent. of the Voting Shares of the Issuer, other than director’s qualifying shares and other shares required to be issued by law; or

(f) (i) the Issuer ceases to beneficially own, directly or indirectly, 100 per cent. of the Voting Shares of Heathrow Airport Limited or any Holding Company of Heathrow Airport Limited that is a direct or indirect Subsidiary of the Issuer, other than director’s qualifying shares and other shares required to be issued by law, or (ii) the sale, transfer, conveyance or other disposition of all or substantially all the assets of Heathrow Airport Limited, other than in the case of (i) and (ii), to another Subsidiary Group Company or in a Permitted Transaction.

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Coupon Dates	Coupon Receive	Principal Amount	Cash Flow

No Data