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Tuesday 10 January, 2012

BAA Limited

Issue of Debt

RNS Number : 3304V
BAA Limited
10 January 2012
 



 Not for release, publication or distribution in whole or in part, directly or indirectly, in or into the United States of America.

 

10 January 2012

 

BAA places inaugural Swiss franc 400 million 5 year bond

 

BAA announces the successful placing of its inaugural Swiss franc debt capital markets transaction, a CHF 400 million 5 year bond.

 

The bond issue follows a well-received roadshow in Switzerland which provided the basis for strong investor support for the transaction. The bond was placed with both traditional institutional investors and private banks that provide access to Swiss retail investor demand for high quality, well-known international corporate issuers.

 

Following BAA's successful inaugural US dollar bond completed in 2011 this marks the next step in BAA's strategy of diversifying its funding sources beyond its core Sterling, Euro and US dollar markets and this diversification process is expected to continue.

 

The bond has a fixed annual coupon of 2.5%. Proceeds from the bond issue will be used to reduce the amount outstanding under BAA London airports' revolving capital expenditure facility.

 

Fred Maroudas, BAA's Director of Treasury, said: "This debut Swiss franc bond is important in further developing BAA's financing strategy as it marks the start of issuance in currencies that over time will be an important supplement to the group's successful existing sterling, Euro and US dollar financing platforms. This transaction demonstrates confidence in the company in the investor community and recognition of Heathrow's resilience and critical role in the global aviation industry. Safe, resilient regulated infrastructure companies like Heathrow are a good investment for retail bond investors and we are delighted to have received such strong support from Swiss retail sector."

 

For further information please contact:-

 

BAA

 

 

Investor enquiries

Andrew Efiong

020 8745 2742

RLM Finsbury

 

 

Media enquiries

Andrew Dowler or Don Hunter

020 7251 3801

 

 

This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act") except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act. There will be no public offer of the securities in the United States.

 

Registered in England No 06458621  Registered Office: The Compass Centre, Nelson Road, Hounslow, Middlesex, TW6 2GW


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