Broadgate Financing PLC
On 2 March 2005 Broadgate Financing PLC, a newly established ring fenced subsidiary of British Land issued £2.08 billion of Bonds supported by the cash flows from Broadgate in the City of London.
The Bonds have a weighted average interest rate of 5.05% and a weighted average maturity of 16.9 years.
The properties securitised are as follows: 1, 2 and 3 Finsbury Avenue; 1, 2 and 3 Broadgate and Broadgate Circle; 4 Broadgate, 6 Broadgate; 8-12 Broadgate and 100 Liverpool Street; 135, 155 and 199 Bishopsgate; Exchange House; 10 Exchange Square; 1 Appold Street; Broadwalk House; the Broadgate Club and "The Willis Building" (51 Lime Street).
At 20 January 2005 the properties were externally valued at £2.8 billion. The latest external valuation at 31 March 2008, by Knight Frank valued Broadgate at £3.152 billion.
More information on Broadgate >
The Bonds issued by Broadgate Financing PLC comprise
| £m | Class | Bonds due | Rating | ISIN | Common Code |
|---|---|---|---|---|---|
| 225 | A1 Floating Rate | 2032 | AAA/Aaa/AAA | XS0213092066 | 21309206 |
| 315 | A2 4.949 per cent | 2031 | AAA/Aaa/AAA | XS0211897664 | 21189766 |
| 175 | A3 4.851 per cent | 2033 | AAA/Aaa/AAA | XS0211897821 | 21189782 |
| 400 | A4 4.821 per cent | 2036 | AAA/Aaa/AAA | XS0213092652 | 21309265 |
| 365 | B 4.999 per cent | 2033 | AA/Aa2/AA | XS0211898043 | 21189804 |
| 235 | C1 Floating Rate | 2022 | A/A2/A | XS0213093031 | 21309303 |
| 215 | C2 5.098 per cent | 2035 | A/A2/A | XS0211898126 | 21189812 |
| 150 | D Floating Rate | 2025 | BBB/Baa2/BBB | XS0213093627 | 21309362 |
The Bonds are rated by Standard & Poors, Moody's and Fitch with the ratings shown in the table above. The Bonds are listed on the London Stock Exchange and have been accepted for clearance through Clearstream and Euroclear.
Interest on the Bonds is payable quarterly on 5th January, April, July and October. Broadgate Finance PLC is obliged to produce quarterly performance reports, annual and semi-annual performance reports. Visit the reports page to view an archive of these reports and the original Offering Circular >
Bond Trustee
Capita IRG Trustees Limited
Phoenix House
18 King William Street
London, EC4N 7HE
