Bristol Airport Under Pressure to Refinance Debt

 

Bristol Airport Under Pressure to Refinance Debt - Sky Today

Bristol Airport Under Pressure to Refinance Debt - Sky Today

LONDON (Reuters) РThe owners of Bristol Airport may have to stump up some cash to help with the refinancing of 515 million pounds ($814 million) of debt which falls due next year, banking sources said on Friday.

The western England airport, owned 50 percent by Macquarie’s European Infrastructure Fund 1 and 49 percent by the Ontario Teachers Pension Plan (OTPP), with Sydney Airport holding the remaining 1 percent, has started talks with lenders but the level of debt relative to earnings makes it too risky for banks to agree a straightforward loan extension or refinancing, the sources said.

Credit Agricole, Societe Generale, Commonwealth Bank of Australia and HSH Nordbank were among the banks that refinanced Bristol Airport’s debt in 2005, according to Thomson Reuters LPC data. The loans mature in October 2013, the data shows.

Bristol Airport and its owners have been working with debt advisory firm Rothschild to review the company’s refinancing or debt restructuring plans, the sources said.

Bristol Airport and Macquarie declined to comment.

(Editing by Greg Mahlich)

By Isabell Witt

Source: ReutersUK



Privacy policy | Contact us | Advertise with us