Meadowhall Finance PLC
On 19 December 2006 Meadowhall Finance PLC, a newly established ringfenced, wholly owned subsidiary of British Land issued £840 million of Bonds supported by the cash flows from Meadowhall Shopping Centre, Sheffield.
The Bonds are secured on Meadowhall Shopping Centre and have a weighted average interest rate of 4.98% and a weighted average life of 15.9 years.
At 30 September 2006 Meadowhall Shopping Centre was externally valued by Knight Frank at £1.62 billion. At 31 March 2008 Meadowhall Shopping Centre was externally valued by Knight Frank at £1.52 billion.
More information on Meadowhall
The Bonds issued by Meadowhall Finance PLC comprise
| £m | Class | Bonds due | Rating | ISIN | Common Code |
|---|---|---|---|---|---|
| 605 | A1 4.986% | 2037 | AAA/AAA | XS0278325476 | 027832547 |
| 60 | A2 Floating rate | 2037 | AAA/AAA | XS0278327415 | 027832741 |
| 175 | B 4.988% | 2037 | AA/AA | XS0278326441 | 027832644 |
The Bonds are rated by Standard & Poors 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 12 January, April, July and October. Meadowhall Finance PLC is obliged to produce quarterly performance reports and annual and semi-annual updates which will be published on this website when released. Visit the reports page to view an archive of the reports and the original Offering Circular >
Bond Trustee
Capita Trust Company Limited
Phoenix House
18 King William Street
London, EC4N 7HE
