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GIP lenders scaled back on £1bn Gatwick loan

BAA on Wednesday sold Gatwick airport to Global Infrastructure Partners for £1.51bn, after the buyer secured £1.125bn through a self-arranged club deal earlier this week. The facility, which was supported by 12 banks and may yet be further syndicated, had been heavily oversubscribed, and the banks had to scale back their original £100m-£500m commitments. Read EuroWeek on Friday for all the reaction.

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