http://www.theaustralian.com.au/business/map-focuses-on-refinancing/story-e6frg8zx-1225905084774
MAp focuses on refinancing
Michael Bennet From: The Australian August 14, 2010 12:00AM
MAP Group's discounted sale of its stake in a Mexican airport operator shows $2.3 billion worth of refinancings are front of mind for it.
The group sold its stake in Grupo Aeroportuario del Sureste.
The former Macquarie Group satellite fund this week sold its 16 per cent interest in New York Stock Exchange-listed Grupo, or ASUR, for $US207 million ($229m).
UBS analysts say the price is 20 per cent below market value and shows "upcoming asset refinancings remain front of mind for management" following other recent capital raising initiatives.
MAp owns 74 per cent of Sydney Airport, and has stakes in Copenhagen and Brussels airports. UBS says it must refinance loans of $2.3bn by March 2012.
daytrade diaries... aug 14/15 weekend, page-28
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