BAA update: Continued uncertainty over Ferrovial/BAA refinancing

February 27, 2008

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.

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

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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Louise Bowman

Editor

Louise Bowman is Editor. She joined Euromoney in March 2006 and appointed deputy editor in 2014 and editor in 2020. Louise has worked for Euromoney in London and New York and also spent several years in Hong Kong writing for Asiamoney.