BAA welcomes loonie bonds
The owner of Aberdeen, Glasgow, Heathrow and Southampton airports said the proceeds from the so-called maple bonds, combined with its successful issue of US dollar bonds earlier this week, will let it fully repay the £427m remaining under its capital expenditure facility, which is due for repayment next year.
Last week, the group agreed a five-year, £2 billion revolving credit facility with its lenders, including banks in Australia, Canada and the UK.
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Hide AdDirector of treasury Andrew Efiong said: “This puts BAA in its strongest liquidity position for many years as it continues with Heathrow’s transformation through its extensive capital investment programme.”