BAA commences refinancing of its GBP9.8 million acquisition bridge loan

UK's BAA has commenced refinancing of its GBP9.8 million acquisition bridge loan made in 2006, with the launch of a GBP700 million A-rated whole business securitisation (WBS) deal (Reuters, 27-Nov-2009). The nine banks which provided the original loan, BNP Paribas, BBVA, Caja Madrid, Calyon, Citi, HSBC, Royal Bank of Canada, Royal Bank of Scotland, and Santander, are also underwriting the bond deal.