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Text size [+][-]  Monday September 6 2010GLOBAL EDITION

Considered view
26 Jul 2006 09:00

Borrowing in more ways than one

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The answer is an unusual financing technique used by UK water companies. But for this to work, existing BAA bondholders must buy in. The mystery was always how Ferrovial could borrow £12bn – equivalent to three times leverage – and keep BAA's credit rating.

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More stories by:  Taron Wade






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