Ferrovial seeks to refinance debt

<!--StartFragment--> FERROVIAL, the Spanish group which owns airport operator BAA, is intending to restructure its debt, it emerged yesterday.<br /><br />It plans to refinance around &euro;3.3bn (&pound;2.9bn) this month, and is understood to be offering higher interest rates over benchmark rates on its new loans.<br /><br />It will offer 200 to 300 basis points, higher than the 65 basis points it&rsquo;s paying on the &euro;1.5bn loan it agreed in 2006 on the takeover of BAA.<br /><br />Ferrovial is in talks with around 40 banks to organise its loans into one facility. <!--EndFragment-->