Heathrow Airport News

BAA bondholders hire advisors

15.05.08

Creditors of BAA have hired investment bank Houlihan Lokey and law firm Kirkland & Ellis to advise them in a potential restructuring of the UK airport operator's debt, a banker close to the deal told Reuters today.

The creditors include a ‘significant amount’ of holders of a £2 billion subordinated bank loan of Airport Development & Investment Limited's - the vehicle used by Ferrovial and its partners to buy BAA. The creditor group wants to be represented in a potential debt restructuring as its debt is currently trading at 80 cents per dollar, the banker said.

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