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Capital markets make a U-turn for AirTanker |
At £2.5 billion ($4.98 billion), the AirTanker deal (which will fund new aircraft for the Royal Air Force) is a very big transaction by public finance initiative standards, and not to tap the bond and bank markets would have been unthinkable this time last year. But it seems that a rethink on the size of the bond tranche was on the cards as early as August 2007, when the crisis in the credit market first began to bite.
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