BAA Ferrovial delays debt refinancing

10th April 2008, Comments 0 comments

The delay is due to challenging credit market conditions.

10 April 2008

SPAIN - BAA, the unit of Spanish builder Ferrovial, has delayed the planned refinancing of  - 10 billion of debt until the third quarter citing "challenging" credit market conditions.

BAA is considering a combination of bank loans and bonds backed by assets, which include the London airports Heathrow, Gatwick and Stansted. BAA had been looking to complete the refinancing by the end of June.

[El Pais / Expatica]

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