Hedge funds look to refinance BBI debt
Tuesday, September 22, 2009 : PermalinkThe West Australian – Royal Bank of Scotland is managing an offer by a group of hedge funds to refinance debt held by Alinta owner Babcock & Brown Infrastructure.
The hedge funds have offered to repay Babcock & Brown Infrastructure’s corporate debt with $600 million of new bonds, a $350 million loan, and $400 million of new equity, according to a statement today from the Sydney-based company that counts Britain’s third-biggest container dock amongst its assets.
It is already weighing a rival deal with a potential cornerstone equity investor that it hasn’t named.
