White & Case Advises Budapest Airport on €1.4 Billion Refinancing
Global law firm White & Case LLP has advised Budapest Airport on the Hungarian legal aspects of an approximately €1.4 billion debt refinancing and €1.1 billion swap restructuring.
István Réczicza, executive partner of the White & Case office in Budapest, led the legal team which advised on the transaction. He said: "This was a major, complex restructuring in Hungary and we were very pleased to advise Budapest Airport and help ensure the deal was completed successfully."
Budapest Airport’s mission is to be the most successful airport in Central and Eastern Europe in terms of passenger growth, service quality and operational efficiency until 2015 and a key driver of local economic growth for Budapest and Hungary as a whole.
During 2007 White & Case advised BAA plc on the sale of its stake in Budapest Airport to a consortium of investors including AviAlliance (formerly Hochtief AirPort), Caisse de Depot et Placement du Quebec, Singaporean government investment arm Malton and KFW Ipex Bank. The sale followed BAA’s acquisition in 2006 by a consortium led by Ferrovial, the world’s leading private investor in transportation infrastructures. White & Case had previously advised BAA on its privatisation of Budapest Airport in December 2005.
The White & Case team in Budapest which advised on the refinancing included partner István Réczicza, local partners Gergely Horváth and Milán Kohlrusz and associates Tamás Erőss, Márton Kertész, Mária Farkas, Márk Baja, Mihály Czesznak and György Kecser.
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