NIAL Holdings solicits consents for 7¼% bonds due 2021

By Jennifer Chiou

New York, Nov. 21 - NIAL Holdings plc announced the start of a consent solicitation for its £85 million of 7¼% guaranteed bonds due 2021.

A bondholders' meeting will take place on Dec. 14 to consider proposed amendments to the indenture, which include allowing holders to redeem the securities at anytime from Dec. 15 through March 31 for the early redemption price and between April 1, 2007 and June 7, 2010 for the redemption price.

The company added that members of a special committee of investors who represent 76% of the outstanding amount of bonds informed the company that they intend to vote in favor of the amendments.

The consent solicitation agent is The Royal Bank of Scotland plc (contact Andrew Burton at 020 7085-8056 or Shanika Amarasekara at 020 7085-4815).

NIAL, based in Newcastle Upon Tyne, United Kingdom, operates and manages the Newcastle International Airport.

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