Assured Guaranty Wraps £140 million Fixed Rate Public Bond Issue for Heathrow Airport
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The wrapped bonds are long dated and issued by Heathrow Funding Limited, the airport’s issuer vehicle, via its multicurrency bond programme. There are two fixed rate tranches of wrapped bonds, a
The bonds have been placed in the
Suparna Dar, Managing Director, AGUK, commented:
"We are delighted to have worked alongside the Heathrow Airport team supporting the airport’s long term funding requirements by providing Assured Guaranty’s financial guarantee.
The closing of this transaction represents our first primary market transaction in the
We guarantee a number of transactions for issuers in the airports sector globally, and believe our wrap provides a cost-effective solution to facilitate long-term financing for major airport borrowers.”
AGUK guarantees timely payment of scheduled principal and interest throughout the life of the bonds, in accordance with the terms of its financial guarantee.
Assured Guaranty’s legal adviser on the transaction was Allen & Overy LLP. Heathrow Airport was advised by Freshfields Bruckhaus Deringer LLP.
IMPORTANT NOTICE
All of the securities have been sold, and this announcement is for information purposes only. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended ("Securities Act"), or with any securities regulatory authority of any state or jurisdiction of
* AGUK (company number 2510099) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. AGUK provides its financial guarantee together with a co-guarantee from its affiliate Assured Guaranty Municipal Corp. (AGM). Both AGUK and AGM are subsidiaries of Assured Guaranty Ltd. (AGL and, together with its subsidiaries, Assured Guaranty). Through its subsidiaries, Assured Guaranty provides credit enhancement products to the
Cautionary Statement Regarding Forward-Looking Statements:
Any forward-looking statements made in this press release reflect Assured Guaranty’s current views with respect to future events and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. These risks and uncertainties include, but are not limited to, those resulting from difficulties with the execution of Assured Guaranty’s business strategy; reduction in the amount of available insurance opportunities and/or in the demand for Assured Guaranty’s insurance; rating agency action, including a ratings downgrade, a change in outlook, the placement of ratings on watch for downgrade, or a change in rating criteria, at any time, of AGL or any of its insurance subsidiaries, and/or of any securities AGL or any of its subsidiaries have issued, and/or of transactions that AGL’s insurance subsidiaries have insured; adverse developments in Assured Guaranty’s guaranteed portfolio; and other risks and uncertainties that have not been identified at this time, management’s response to these factors, and other risk factors identified in AGL’s filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20231116732040/en/
Investor Relations:
Robert Tucker, +1 212-339-0861
Senior Managing Director, Investor Relations and Corporate Communications
rtucker@agltd.com
Media:
Ashweeta Durani, +1 212-408-6042
Vice President, Corporate Communications
adurani@agltd.com
Source: Assured Guaranty Ltd.
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