Ferrovial closes on Cintra takeover with loan overhaul

Spain’s building and infrastructure group Ferrovial, which controls UK airport operator BAA, has signed banks into a Eu3.3bn deal which amalgamates some of the group’s existing loans. The new financing structure binds together Ferrovial’s corporate debt at the parent company level, paving the way for the group to press ahead with its merger with Cintra, the transport infrastructure company, in which it already has a majority stake. Read EuroWeek on Friday for more on this transaction and some of the other deal signings taking place in western Europe this week.