Presale: Arqiva Financing PLC Feb 13

  • ID: 2417827
  • February 2013
  • Standard & Poors
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Standard & Poor's Ratings Services has assigned its preliminary credit ratings to Arqiva Financing PLC's £750 million fixed-rate senior pari passu secured notes. The transaction is a corporate securitization of the operating business of the Arqiva group (Arqiva), which provides communications infrastructure and media services. At closing, Arqiva Financing will onlend proceeds from the issuance of two pari passu classes of notes to the borrower, Arqiva Financing No.1 Ltd. via intercompany loans. The borrower's financial obligation will be serviced by operating cash flows from the obligors and secured by the obligors' assets, including masts, material licenses, and contracts. The borrower will raise additional funds via term loan facilities that a syndicate of banks will provide to the securitization group through...

Companies mentioned in this report are:
- Arqiva Financing PLC

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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- Arqiva Financing PLC

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