Heathrow Airport Unit Is Eying Its Latest Bond Sale in Canada

A unit of Heathrow Airport is looking to raise around C$500 million ($359 million) through a bond sale in Canada, according to people familiar with the matter, amid improved market conditions there for overseas borrowers.

The note from Heathrow Funding Limited could have a maturity of about 10 years, and initial discussions are for a spread of at least 120 basis points above Canadian government benchmarks, said the people, who asked not to be identified as they aren’t authorized to speak publicly.