{"id":8294,"date":"2008-08-05T00:00:00","date_gmt":"2008-08-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"baa-in-talks-with-hedge-fund-to-save-finance-plan","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2008\/baa-in-talks-with-hedge-fund-to-save-finance-plan.html","title":{"rendered":"BAA in talks with hedge fund to save finance plan"},"content":{"rendered":"<p class=\"story\">Telegraph.co.uk &#8211; BAA is in urgent talks with a hedge fund client of investment bank UBS that is threatening to scupper the airport operator&#8217;s proposed &pound;7.65bn refinancing.<\/p>\n<p class=\"story\">As today&#8217;s deadline for bondholders to vote through a crucial part of the deal nears, the hedge fund was last night still refusing to accept BAA&#8217;s terms for transferring more than &pound;225m of bonds into a new financing structure.<\/p>\n<p class=\"story\">BAA is seeking agreement from holders of &pound;4.7bn of bonds to &quot;migrate&quot; their debt into a new investment-grade, ring-fenced structure backed by Heathrow, Gatwick and Stansted airports. Only if the bondholders agree to such &quot;migration&quot; can BAA begin to draw the &pound;7.65bn of fresh loans put in place by a nine-strong banking syndicate.<\/p>\n<p><strong><a href=\"http:\/\/www.telegraph.co.uk\/money\/main.jhtml?xml=\/money\/2008\/08\/05\/cnbaa105.xml\" target=\"_self\" title=\"Read Complete Article\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telegraph.co.uk &#8211; BAA is in urgent talks with a hedge fund client of investment bank UBS that is threatening to scupper the airport operator&#8217;s proposed &pound;7.65bn refinancing. As today&#8217;s deadline for bondholders to vote through a crucial part of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[749,858,1941,466,421,948,112],"class_list":["post-8294","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-abbey","tag-few-days","tag-homebuilding","tag-junk-status","tag-nutmeg","tag-subsidiaries","tag-summer-intern"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8294"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8294\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}