Funding will be used to reduce debt and facilitate access to capital markets
BAA has announced a proposed injection of Â£500m into its London portfolio.
Some Â£200m of the new equity will come from shareholders and Â£300 million from BAA Airports Limited and FGP Topco Limited. According to a statement from the group, the funding will be used to â€œpay down debt, strengthen the group’s medium-term financial ratios and facilitate its access to the capital markets.â€
Of the Â£500m, Â£260m was paid to the group on Friday and the remaining Â£240m is expected to be injected in January 2010.