The majority of BAA’s debt financing falls into the following four categories:

1) Bonds issued in the debt capital markets from institutional investors and bank facilities raised from leading international banks, both to finance the Security Group (BAA’s two London airports – also known as the ‘Regulated Airports’)

2) Subordinated bond issue and loan facility held at BAA (SH) plc (formerly BAA (SH) Limited) which was raised from institutional investors and banks in a refinancing of existing debt completed in November 2010

3) Bank debt raised from a group of leading international banks to finance Edinburgh, Glasgow, Aberdeen and Southampton airports

4) Toggle facility raised by ADI Finance 1 Limited from a range of institutional investors that formed part of the original acquisition financing put in place in 2006 by the Ferrovial-led consortium that acquired BAA

In addition there are a number of smaller debt facilities, totalling less than £100 million, in various parts of BAA’s group structure.

You can also access summaries, as well as detailed information, of the consolidated external debt financing position of various group companies and there is an archive of the historic debt financing position of the different group companies. View these via the left hand menu.