FRANKFURT (Thomson Financial) - Fraport AG. has already secured more than half of financing for about 7 billion euros worth of planned investments through 2015, chief financial officer Matthias Zieschang told Boersen-Zeitung in an interview.
About 3 billion euros of investments will be financed with existing cash, while the rest will be paid for through debt. "Of that (debt), we have already financed more than 50 percent in advance," Zieschang told the newspaper. "And in the next 12 months to 18 months we will secure further advance financing to cover up to 75 percent of our needs ahead of time." This debt comprises syndicated loans, private placements and other debt with a maturity between seven years and 10 years. Fraport plans to spend about 4 billion euros on expansion and 3 billion euros on developing existing business.
About 3 billion euros of investments will be financed with existing cash, while the rest will be paid for through debt. "Of that (debt), we have already financed more than 50 percent in advance," Zieschang told the newspaper. "And in the next 12 months to 18 months we will secure further advance financing to cover up to 75 percent of our needs ahead of time." This debt comprises syndicated loans, private placements and other debt with a maturity between seven years and 10 years. Fraport plans to spend about 4 billion euros on expansion and 3 billion euros on developing existing business.
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