Gatwick Airport - Refinancing

List of all recent work 

Slaughter and May advised Gatwick Airport Limited (GAL) on the second single-airport securitisation in the UK and one of the first corporate securitisations that combines sizeable bank and bond debt.

Gatwick Funding Limited (GFL), the issuing vehicle and a wholly owned subsidiary of GAL, established its multicurrency secured bond programme for the issue of up to £5 billion bonds for the financing of GAL, the owner and operator of Gatwick Airport. GFL made its debut issuance on 02 March 2011 of two series of bonds for an aggregate amount of £600 million. The bonds are secured over all or substantially all of the assets of GAL and its immediate holding company, Ivy Holdco Limited.

Mourant Ozannes advised on Jersey law and Walkers on Cayman Islands law.

Marc Hutchinson (partner), Simon Hall (partner), Richard Fletcher (associate), Stephen Fishbourne (associate), Lucy Smith (associate), James Wyatt (associate); Corporate: Roland Turnill (partner), Sarah Ullathorne (associate), Rosalie Ramsden (associate), Harriet Redwood (associate); Competition and Regulatory: Christopher Wright (Special Adviser), Nele Dhondt (associate), Kelly-Ann Semper (associate); Tax: William Watson (partner), Gareth Miles (partner), Richard Jeens (associate), Shofiq Miah (associate); Commercial Real Estate: David Waterfield (partner), Louisa Gilliard (associate); IP/IT: Robert Sumroy (partner), Duncan Blaikie (associate)