BAA released its latest results in London yesterday, a presentation in which it became clear that the March deadline for the launch of the securitisation refinancing of ADI’s acquisition debt is going to pass. The market has been eagerly awaiting the deal, which will be the largest corporate securitisation to date and may even reach £8 billion in size. It was expected to be in the bag by the end of the first quarter this year, but there still seems to be a substantial amount of work to do.
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