Gatwick Airport priced its £600 million ($968 million) structured finance deal. The offering was structured with two 'BBB+sf ' fixed-rate bonds rated by both Moody's Investors Service and Fitch Ratings.
According to market reports, the deal was managed by the Royal Bank of Scotland. The bonds were issued with different maturities.
The 15-year piece was priced as 205 basis points over U.K. gilts and the 30-year bond also priced at 205 basis points, according to market reports.
This deal comes under a funding program for the U.K. airport that can issue up to £5 billion, according to a Reuters report.