BAA plc - Convertible Bond Issue.Business Editors LONDON--(BUSINESS WIRE)--March 18, 2002 BAA Baa See BBB. plc
This press release is not an offer for sale of the Bonds of BAA
plc in the United States. The Bonds are not being registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to US person except pursuant to an
applicable exemption from such registration. Any offering of the
securities will be made only by means of a prospectus containing
detailed information regarding BAA plc and its management, including
financial statements. Such prospectus will be made available through
BAA plc.
In connection with the issue of the Bonds, Deutsche Bank AG London
or any of its agents may over-allot or effect transactions with a view
to supporting the market price of the Bonds and the Shares issued upon
conversion of the Bonds at a level higher than that which might
otherwise prevail for a limited period after April 4, 2002. However,
there may be no obligation on Deutsche Bank AG London or any agent of
it to do this. Such stabilizing, if commenced, may be discontinued at
any time and must be brought to an end after a limited period.
Offering of (pound)424,000,000 2.94 per cent Convertible Bonds due 2008 BAA plc, the international airport group, today announced that it has launched an issue (the "Issue") of (pound)424,000,000 2.94 per cent Senior Unsecured Convertible Bonds due April 4, 2008 (the "Bonds") convertible into ordinary shares of BAA (the "Shares"). The Bonds will be issued at par and will bear a coupon of 2.94 per cent. per annum Per annum Yearly. . The conversion price will be (pound)8.00, representing a premium of 20.1 per cent. over the closing price of the Shares in London on Friday March 15, 2002. If not converted or previously redeemed the Bonds will be redeemed at par on April 4, 2008. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the Issue are intended to fund BAA's capital expenditure program and for its general corporate purposes. Cazenove is Financial Adviser to BAA and Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank AG London is Lead Manager and sole Bookrunner to the Issue. Application will be made for the Bonds to be admitted to the Official List of the UK Listing Authority and to the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. plc for trading on its market for listed securities Listed Security Securities that have been accepted for trading purposes by a recognized and regulated exchange. Notes: Listed securities have the advantage of higher liquidity within a regulated environment. . Brief description of BAA BAA owns and operates seven UK airports, including Heathrow, Gatwick and Stansted. In the year ended March 31, 2001, these airports handled over two thirds of UK air passenger traffic, serving more than 124 million passengers. In addition, BAA also operates in thirteen overseas airports and owns and operates Heathrow Express Heathrow Express is a train service from Heathrow Airport to Paddington in central London operated by the Heathrow Express Operating Authority—a wholly owned subsidiary of BAA. , the rail link between Heathrow and Paddington. Through BAA Lynton, BAA is also involved in the ownership and development of office, warehouse and hotel facilities at and around its airports. BAA's international contracts include in the US: Pittsburgh, Indianapolis, Boston Logan; in Australia: Melbourne, Launceston, Perth, Alice Springs Alice Springs, town (1991 pop. 20,448), Northern Territory, Australia. It lies in a pastoral area surrounded by desert near the center of the continent and is a stop on the Adelaide Darwin Railway. , Tennant Creek and Darwin; in Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. : Naples; in the Middle East: Seeb International and Salalah in Oman; in the Indian Ocean Indian Ocean, third largest ocean, c.28,350,000 sq mi (73,427,000 sq km), extending from S Asia to Antarctica and from E Africa to SE Australia; it is c.4,000 mi (6,400 km) wide at the equator. It constitutes about 20% of the world's total ocean area. : Mauritius. BAA ordinary shares trade on the London Stock Exchange; prices may be accessed on Bloomberg under the symbol BAA LN, on the Reuter Equities 2000 Service under BAA.L and on Quotron under BAANU.EU. BAA ADRs, each equal to one ordinary share, appear on the pink sheets under BAAPY. Additional information is available on BAA's home page: http://www.baa.com. Enquiries: Cazenove Financial Adviser to BAA plc Duncan Hunter, Tel: 44 20 7588 2828 Deutsche Bank AG London Michael Flood, Tel: 44 20 7545 8000 Lead Manager and sole Bookrunner Joseph Manko, Tel: 44 20 7545 8000 |
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