Following repayment of £1,100 million of its subordinated debt facility in September 2010, BAA is pleased to confirm plans for refinancing the remaining £465.8 million of this facility held at BAA (SH) plc ('BAA (SH)'), the holding company for BAA (SP) Limited and its subsidiaries that own BAA's London airports.
BAA (SH) has entered into a £250 million loan facility with a group of institutional investors and banks. The new facility includes a £75 million one year tranche and a £175 million five year tranche with margins of 4.25% and 5.00% respectively.
BAA (SH) intends to complete the refinancing of its existing subordinated debt facility through capital markets issuance in the near future.
BAA (SP) Limited's results for the nine months ended 30 September 2010 will be announced tomorrow, Wednesday 27 October 2010, and there will be a presentation and conference call relating to the results at 11.00 am. Details of the event were previously released by Regulatory News Service on 13 October 2010 and the conference call details are set out again below.
For further information please contact: -
BAA Media enquiries: Malcolm Robertson or Andrew Teacher Tel. 020 8745 7224
Investor enquiries: Andrew Efiong Tel. 020 8745 2742
Finsbury
Andrew Mitchell, Don Hunter or Kirsty Flockhart Tel. 020 7251 3801
The conference call to discuss the results of BAA (SP) Limited for the nine months ended 30 September 2010 will be held at 11.00 am (UK time) on Wednesday 27 October.
Dial-in details for the call are: Conference ID: 16596693; UK free phone: 0800 694 0257; UK local/standard international: 44 (0)1452 555566. It will also be possible to view online the presentation as it is used during the call at:
https://webconnect.webex.com/webconnect/onstage/g.php?t=a&d=666758755
