EMEA: UK - BAA done
BAA has announced its £625m opco Class B refinancing of its holdco junior debt has been completed. Barclays Capital, Bank of America, HSBC and ING took £100m each. Margin on the 4 year loan is 325bp up to 375bp and fees, 150bp. BAA will now repay £1.1bn of the £1.57bn of junior debt with £375m being drawn down on its revolver.
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