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Debt summary

The majority of the Group's debt financing falls into the following four categories:

  1. Bonds issued in the debt capital markets from institutional investors and loan facilities raised from leading international financial institutions, both to finance the Security Group (Heathrow airport).
  2. Subordinated bond issues and loan facilities held at Heathrow Finance plc (formerly BAA (SH) plc)
  3. Bank debt raised from a group of leading international financial institutions to finance Glasgow, Aberdeen and Southampton airports.
  4. ADI Finance 1 Senior Loan Facility (previously called 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 the Group.

In addition there are a number of smaller debt facilities, totalling less than £100 million, in various parts of the Group's 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.

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