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Brussels Airport seeks public utility easement consent for three notes
By Susanna Moon
Chicago, March 16 Brussels Airport Co. SA/NV will be holding meetings on April 1 in Brussels to solicit consents for three series of its notes.
The bonds covered by the solicitations are as follows:
500 million of 3.25% notes due Jan. 7, 2020 issued on July 1, 2013;
200 million of 3.3% notes due Sept. 9, 2025 issued on Sept. 9, 2013; and
120 million of 2.5% notes due June 19, 2024 issued on June 19, 2014.
The issuer is asking for permission to allow a government authority the right to build housing on land mortgaged by the company, according to a notice.
The authority will pay to the borrower a total of 776,000 over the life of the right to build, the release noted.
The borrower is requesting that public utility easements be granted in favor of utility providers and not only the federal, regional or local governments and that the public utility works include electricity, gas, water and telecommunications infrastructure surrounding Brussels Airport.
The public utility easement consents are being sought so the borrower need not approach the security trustee on a regular basis each time a new public utility easement consent arises and the public utility works may be performed, more efficiently and practically, where required, by third party utility providers.
To form a quorum, there must be one or more persons representing at least half of the aggregate outstanding bonds of each series at the meeting. To pass, a majority of at least 75% of the votes cast at the meeting must be in favor of the proposal.
Holders must be of record as of March 29.
The international airport is based in Brussels.
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