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