UK’s London Gatwick Airport owner, Global Infrastructure Partners (GIP), plans to sell bonds later this year to refinance debt used to purchase the airport (Bloomberg, 23-Feb-2010). GIP plans to replace its short-term bank debt with long term bonds. The bonds are to be sold in the airport’s name. GIP borrowed GBP740 million from a bank syndicate to finance the GBP1.5 billion purchase of Gatwick.
24-Feb-2010 12:38 PM