BAA may increase as early bird commitments reach £3bn

BAA, the UK airports operator, may increase the size of its core credit facilities after 12 lenders participated in the early bird phase of syndication. Commitments have reached £3bn. The borrower will speak to more lenders next week as part of a targeted second tier syndication phase of the £1.2bn revolving credit facility. Around half a dozen more banks are likely to be approached to join the deal.