Macquarie provides £45M debt financing to Bristol Airport
London, 02 Jun 2015
Macquarie Infrastructure Debt Investment Solutions (MIDIS) has provided a long term debt facility to one of the UK’s fastest growing regional airports, Bristol Airport (Bristol).
MIDIS worked closely with Bristol to lend, as part of a wider debt refinancing process, a £45m nominal note that matures in 2030. The overall refinancing combines a mix of tenors and liquidity sources, making it an innovative and alternative financing facility for the airport.
This is the second airport financing that MIDIS has completed, following the announcement in February that MIDIS had partnered with Heathrow to provide a £115m inflation linked Class B note maturing in 2036.
Tom Van Rijsewijk, Associate Director, MIDIS: “Bristol Airport is an asset that offers an attractive investment opportunity for our institutional and pension fund clients. It is an established infrastructure business with a resilient operating history and a strong management team. Our experience and expertise in this sector allowed us to secure an excellent investment for our clients and provide certainty of execution to Bristol Airport.”
Jim McAuliffe, Finance Director at Bristol said: “MIDIS has experience and insight into working with airports, understanding our long term financing needs and allowing us to secure funding quickly with a smooth execution process.”
The MIDIS platform comprises a pooled fund and separately managed accounts. To date MIDIS has raised total commitments of over £1.5 billion for its infrastructure debt strategy, which targets investment-grade issuers in sectors such as utilities, renewables, transport and social housing.
Macquarie Corporate Communications
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Macquarie Group (Macquarie) is a leading provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie employs more than 14,000 people in 28 countries. At 31 March 2015, Macquarie had assets under management of €345 billion.
About Macquarie Infrastructure Debt Investment Solutions
In early 2012 Macquarie established the Macquarie Infrastructure Debt Investment Solutions (MIDIS) platform to leverage the infrastructure expertise within Macquarie into an investor-aligned global infrastructure debt investment management business. The MIDIS platform has been successful in securing mandates with prestigious insurer and pension scheme clients and has a track record of investing at attractive yields.