Enlarge text

  • Print this page

Regulated airport bonds

Class A/Senior bonds issued by Heathrow Funding Limited (1)


ISIN number Coupon Coupon payment date Scheduled redemption date
(2) (3)
Notional/nominal value
(4) (5) (6) (7) (8) (9)
       

Local currency

Sterling

XS0383001640 4.6% 30 Sep 30 Sep 2014 €750m £513m
XS0789279683 3% 8 Jun / 8 Dec 8 Jun 2015 £300m £300m
XS0795938348
US05607XAA19
2.5% 25 Jun / 25 Dec 25 Jun 2015 US$500m £319m
XS0383000329 12.45% 31 Mar / 30 Sep 31 Mar 2016 £300m £300m
XS0548105559 4.125% 12 Oct 12 Oct 2016 €500m £434m
XS0736300293 4.375% 25 Jan 25 Jan 2017 €700m £584m
CH0147029299 2.5% 8 Feb 8 Feb 2017 CHF400m £272m
XS0383001996 4.6% 15 Feb 15 Feb 2018 €750m £510m
CAG0753UAX32 4% 3 Jan / 3 Jul 3 Jul 2019 C$400m £250m
XS0383000675 9.2% 29 Mar / 29 Sep 29 Mar 2021 £250m £250m
CA42246QAA63 3% 17 Jun / 17 Dec 17 Jun 2021 C$450m £246m
XS0643616435
US05607MAA53
4.875% 15 Jan / 15 Jul 15 Jul 2021 US$1,000m £621m
XS0774767924(10) 1.65% 25 Apr 25 Apr 2022 £192m £192m
XS1069552393 1.875% 23 May 23 May 2022 €600m £490m
XS0383002291 5.225% 15 Feb 15 Feb 2023 £750m £750m
XS0471436088 6.75% 3 Dec 3 Dec 2026 £700m £700m
XS0383000832 7.075% 4 Feb / 4 Aug 4 Aug 2028 £200m £200m
XS0383001053 6.45% 10 Jun / 10 Dec 10 Dec 2031 £900m £900m
XS0736965855(11) 0% n/a 26 Jan 2032 €50m £42m
XS1008233907(12) 1.366% 28 May / 28 Nov 28 Mar 2032 £76m £76m
XS0758021967(13) 0% n/a 2 Apr 2032 €50m £42m
XS1072249128 4.171% 12 Jun / 12 Dec 12 Jun 2034 £50m £50m
XS1078358733(14) 0% n/a 1 Jul 2034 €50m £40m
XS1008232925(12) 1.382% 28 May / 28 Nov 28 Jan 2039 £50m £50m
XS0471438456(15) 3.334% 9 Jun / 9 Dec 9 Dec 2039 £545m £545m
XS1088823791(16) 1.238% 22 Mar / 22 Sep 22 Mar 2040 £100m £100m
XS0625276257 5.875% 13 May 13 May 2041 £750m £750m
XS0987355855 4.625% 31 Oct 31 Oct 2046 £750m £750m
XS1008235514(12) 1.372% 28 May / 28 Nov 28 Jan 2049 £76m £76m
Sub-total         £10,352m

Class B/Junior bonds issued by Heathrow Funding Limited (3)

ISIN number Coupon Coupon payment date Scheduled redemption date Notional/nominal value
        Local currency Sterling
XS0539845684 6.25% 10 Sep 10 Sep 2018 £400m £400m
XS0759599409 6% 20 Mar 20 Mar 2020 £400m £400m
XS0746068732 7.125% 14 Feb 14 Feb 2024 £600m £600m
XS1092315339 4.221% 6 Aug 6 Aug 2026 £110m £110m
XS1100253357(17) 4.221% 6 Aug 6 Aug 2026 £45m £45m
Sub-total         £1,555m
TOTAL BONDS ISSUED BY HEATHROW FUNDING LIMITED   £11,907m

Bonds issued by Heathrow Finance plc

ISIN number Coupon Coupon payment date Scheduled redemption date Notional/nominal value
        Local currency Sterling
XS0555678597 7.125% 1 Mar / 1 Sep 1 Mar 2017 £325m £325m
XS0864352504 5.375% 1 Mar / 1 Sep 2 Sep 2019 £275m £275m
Total         £600m

Notes

  1. The bonds are issued by Heathrow Funding Limited but certain of the bonds were originally issued by LHR Airports Limited (previous BAA plc) and migrated to Heathrow Funding Limited as part of the Group's refinancing completed in 2008.
  2. The Class A bonds with scheduled redemption dates up to and including 15 February 2018 (other than such bonds issued since 18 August 2008, being the bonds with scheduled redemption dates of 8 June 2015, 25 June 2015, 12 October 2016, 25 January 2017 and 8 February 2017) benefit from a guarantee from LHR Airports Limited.
  3. If Class A bonds are not redeemed on the Scheduled Redemption Date, they remain outstanding until their legal maturity date which is 2 years later than the Scheduled Redemption Date. During this two year period, the coupon paid would be based on a floating rate plus 4% per annum. For Class B bonds the legal maturity date is the same as the Scheduled Redemption Date. The legal maturity date of the Class A Bonds is 2 years after the Scheduled Redemption Date to cater solely for the possibility that Heathrow Airport Limited might default on repayment of its inter-company loan from Heathrow Funding due to be repaid by the relevant Scheduled Redemption Date to provide Heathrow Funding Limited with the funds to repay the related bond. As such, the Group does not have the right to extend the Scheduled Redemption Date.
  4. The nominal value outstanding of certain of the bonds issued before August 2008 is lower than the original issue size due to certain bondholders either voting against the refinancing proposals or being ineligible to participate in the refinancing completed in August 2008.
  5. The Euro-denominated issues with scheduled redemption dates of 30 September 2014, 12 October 2016, 25 January 2017, 15 February 2018, 23 May 2022, 26 January 2032 2 April 2032 and 1 July 2034 were converted into sterling at a rate of 0.684, 0.8675, 0.834, 0.680, 0.817, 0.832, 0.838 and 0.806 respectively.
  6. The US dollar-denominated issue with the scheduled redemption date of 15 July 2021 was converted into sterling at a rate of 0.6213.
  7. The CHF-denominated issue with the scheduled redemption date of 8 February 2017 was converted into sterling at a rate of 0.68075.
  8. The US dollar-denominated issue with the scheduled redemption date of 25 June 2015 was converted into sterling at a rate of 0.63861.
  9. The CAD dollar-denominated issues with scheduled redemption dates of 3 July 2019 and 17 June 2021 were converted into sterling at a rate of 0.624 and 0.547 respectively.
  10. This is an index-linked bond where, in addition to the coupon payable of 1.65%, the change in the retail prices index from the time of issue will be added to the notional/nominal value of the bond. The notional value of this bond is quoted at £192m as at 30 June 2014 which includes accretion of £12 million on its effective original issue value of £180 million.
  11. This is a zero coupon bond where a yield of 4.25% per annum from the time of issue will be accrued on the notional/nominal value of the bond.
  12. These are index-linked bonds where, in addition to the coupons payable of 1.366%, 1.382% and 1.372%, the change in the retail prices index from the time of issue will be added to the notional/nominal value of the bond. As at 30 June 2014, the notional values of these bonds were £76m, £50m and £76m, which includes accretion of £1m, £0.m and £1m on their effective original issues of £75m, £50m and £75m, respectively.
  13. This is a zero coupon bond where a yield of 4.12% per annum from the time of issue will be accrued on the notional/nominal value of the bond.
  14. This is a zero coupon bond where a yield of 3% per annum from the time of issue will be accrued on the notional/nominal value of the bond.
  15. This is an index-linked bond where, in addition to the coupon payable of 3.334%, the change in the retail prices index from the time of issue will be added to the notional/nominal value of the bond. As at 31 March 2014, the notional value of this bond was £545m which includes accretion of £85m on its effective original issue value of £460m.
  16. This is an index-linked bond where, in addition to the coupon payable of 1.238%, the change in the retail prices index from the time of issue will be added to the notional/nominal value of the bond. The notional value of this bond is £100m as at issue on 24 July 2014.
  17. Temporary ISIN code to become fungible with XS1092315339 after 40 days.

[Back to top]

Access to this website and the material and the information on this website may be restricted by law in jurisdictions other than the United Kingdom and therefore persons in a jurisdiction other than the United Kingdom should inform themselves about and observe any such restrictions. This website and the material and information on this website are not directed at, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any jurisdiction where such availability or use would be contrary to applicable law or regulation or which would subject Heathrow Airport Holdings Limited and/or any of its subsidiaries or affiliates to any registration or licensing requirement within such jurisdiction.

Financial calendar

Financial calendar

Find publication dates for our traffic statistics, financial results and investor reports.

View financial calendar