Sacramento Refinance

The airport manager British BAA, Railroad Spanish cluster property that presides over Rafael of the Pine, has completed the operation by which he equips with a long term permanent financial structure his British airports and that the refinancing of its debt supposes, whose amount is of 16,866 million Euros, informed yesterday the company to the National Commission into the Market of Valores (CNMV).

This amount includes 4,186 million for investments it jeopardize in the seven airports that the operator manages in the United Kingdom.

One is the financing of these characteristics of greater volume never completed, and “it assures that BAA has the suitable financial structure to implement their ambitious program of investments to increase the airport capacity, to construct new facilities and to provide a better service to passengers and airlines”, according to honored in an official notice Colin Matthews, executive director of BAA. In particular, the operation of financing had like elements keys a corporative rearrangement to separate the financing of the airports regulated and of not regulated; as well as the financing for both cases.

Step by step

The financing of the airports regulated of Heathrow, Gatwick and Stansted represents the agreement most of, with commitments of debt by 15,347 million Euros. The past 5 of August, BAA took an important step to close this refinancing when obtaining the support of the assemblies of bondholders to migrate “all the series of existing bonds” of the company to the new structure of financing.

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