Issue and listing of unsecured bonds by NATS (En Route) Plc

BDO.LiveSite.Deals.DealTypeTransaction Services
BDO.LiveSite.Deals.SubIndustryTransport & Logistics
BDO.LiveSite.Deals.ClientNameNATS (En Route) Plc

In June 2021, NERL, NATS regulated business, completed a full refinancing of its debt structure.  It secured £1.6bn of funding by issuing £750m of unsecured bonds and agreeing £850m of new unsecured bank facilities.  This enabled the redemption of more expensive secured bonds, in place since 2003, and repayment of existing bank borrowings, including a £380m facility agreed in August 2020 which provided additional liquidity in response to Covid-19.  The refinancing ensures NATS is well placed for a range of recovery outcomes.

BDO provided advice to NATS (En Route) Plc.