REG - NATS En Route PLC - New bonds issuance escrow & redemption

Bank Of New York MellonAnnouncement

26/04/2021 09:35

RNS Number : 5655W
  
NATS (En Route) PLC
  
26 April 2021
  
 

 
 
For Immediate Release
26 April 2021
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
 
NATS (En Route) plc 
(the "Issuer")
 
£600,000,000 5.25 PER CENT. GUARANTEED SECURED AMORTISING BONDS DUE 2026 (ISIN XS0174424902) (THE "EXISTING BONDS")
 
£750,000,000 SENIOR UNSECURED BONDS (THE "NEW BONDS")
 
NOTICE IS HEREBY GIVEN that the Issuer intends to issue the New Bonds in connection with the refinancing of the Issuer's existing debt comprising of the Existing Bonds and other secured facilities from commercial banks (the "Existing Debt"). On the date that the New Bonds are issued, the net proceeds from the issuance (the "Proceeds") will be placed in an escrow account held by The Bank of New York Mellon, London Branch in the name of the Issuer (the "Escrow Account"). Once the Proceeds are placed in the Escrow Account, the Issuer will arrange for an irrevocable redemption notice to be delivered to the holders of the Existing Bonds for the Existing Bonds to be redeemed in whole on the date specified therein (the "Refinancing Date"). On the Refinancing Date, the Proceeds will be released from the Escrow Account and used to repay all amounts outstanding under the Existing Debt, including payment of a gilts-linked make-whole redemption right on the Existing Bonds. 
 
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 or email press.office@nats.co.uk. 
 
About NATS 
NATS is a leading air traffic management and solutions company, established in the UK in 1962 and operated as a partnership principally between the government and The Airline Group Limited since 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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