Airport Operator Proposes USD9.6 B Bond Swap

14 Jul 2008

Airport operator BAA, under a threat of credit-rating downgrades, is looking to swap an estimated USD9.6 billion of bonds for notes backed by two U.K. airports. Under the proposal, London’s Heathrow and Gatwick airports would back the notes—which would have the same maturity date as the old ones ...

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