REG - NATS En Route PLC - Refinancing Regulated Decision Proposal

Assured GuarantyAnnouncement

30/03/2021 08:05

RNS Number : 8652T
  
NATS (En Route) PLC
  
30 March 2021
  
 

For Immediate Release
30 March 2021
 
NATS (En Route) Plc 

(the "Issuer")
£600,000,000 5.25 per cent. Guaranteed Secured Amortising Bonds due 2026 
ISIN XS0174424902
(the "Bonds")
issued by the Issuer and guaranteed pursuant to a financial guarantee insurance policy issued by Assured Guaranty (Europe) plc (previously known as MBIA Assurance S.A.)   
 
Capitalised terms used but not defined in this notice have the same meanings as given to such terms in the Intercreditor Deed (as defined below). 
 
Notice is hereby given that on 29 March 2021 the Issuer delivered a Regulated Decision Proposal (the "RDP") to Barclays Bank Plc as intercreditor agent under the intercreditor deed dated 19 March 2003 (as amended, varied, novated, supplemented or amended and restated from time to time including as amended and restated on 11 August 2003, 26 September 2003, 21 November 2005, 31 March 2011 and 15 May 2012 between, among others, the Issuer and Barclays Bank PLC, with a copy to each Senior Finance Party (or their Creditors' Representatives) (the "Intercreditor Deed"), in connection with the potential refinancing of its existing financing comprising of the Bonds and other secured facilities from commercial banks (the "Refinancing"). To implement the potential Refinancing, certain waivers and consents are sought from the Majority Senior Creditors in accordance with the provisions of the Senior Finance Documents. 
 
Important information
Please note that nothing in this document is intended to amount to an invitation or inducement to engage in investment activity. Nothing in this document amounts to the giving of advice. If you are in any doubt as to the action you should take, you should consult a professional adviser.
 
ENDS
 
Note to editors:
For more information contact the NATS Press Office on 01489 615945, email press.office@nats.co.uk or tweet @NATS.
 
About NATS
NATS is a leading air traffic management and solutions company, established in the UK in 1962 and part privatised through a Public Private Partnership in 2001. 
 
NATS handled 2.6 million flights in 2019, before the pandemic, providing en-route air traffic management across the UK and the eastern North Atlantic from its centres at Swanwick, Hampshire and Prestwick, Ayrshire.
 
For more information visit the NATS website at www.nats.aero 

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