Ferrovial ‘optimistic’ on BAA refinancing
14.05.08
Ferrovial still expects to complete the refinancing of about £10 billion of debt related to its purchase of UK airport operator BAA in the third quarter, its chief financial officer said yesterday.
CFO Nicolas Villen told analysts on a conference call: ‘We feel more optimistic than a few weeks ago about the completion of the refinancing in the third quarter. We are making good progress on the bank facility, good progress on the ratings and good progress on the documentation. That's why we have started the bondholder inquiry so in a few weeks we can start negotiations with them.'
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