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Ferrovial and its partners have started up an optimization plan for the financial structure of BAA, its British airport subsidiary, estimated at £500 million (€557.5 million), aimed at strengthening the capital base of the airports regulated by the group in London. This information was provided by the Spanish company, whose subsidiary has become the world’s largest airport infrastructures manager.
This plan creates the base needed to access the issue of bonds in BAA. Approximately 60% of the plan is carried out based on the resources available in the FGP Topco, the corporate parent structure of the airport group, which involves a capitalization of £300 million (€334 million).
The partners have also committed to making a monetary contribution of up to £200 million (€223 million) in keeping with their share of the BAA capital. Ferrovial, which controls 55.8% of the airport group, will contribute approximately £112 million (€125 million). These capital contributions will be made in the first months of 2010.
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11/16/09
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