BAA update: Continued uncertainty over Ferrovial/BAA refinancing
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BAA update: Continued uncertainty over Ferrovial/BAA refinancing

Stephen Nelson, CEO of BAA, is resigning from his role, which is said to be a reaction to widespread complaints over UK airports. His replacement is Colin Mathews, the former CEO of Severn Trent. But in addition to trying to turnaround the UK’s infrastructure company he faces continued uncertainty over the financing put in place by Ferrovial. Read Euromoney’s groundbreaking report, published a year ago, which first exposed the huge problems that the refinancing faced.

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Why BAA’s refinancing can’t get off the ground

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The foundation on which Ferrovial built its acquisition of BAA was its securitization exit. But nearly a year after the buyout, the refinancing is nowhere to be seen.

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