Macquarie backs Bristol Airport

The £45 million deal is the second airport financing which debt platform MIDIS has invested in this year.

Macquarie Infrastructure Debt Investment Solutions (MIDIS) has provided Bristol Airport in the UK with a £45 million (€62 million; $69 million) long-term debt facility, according to a statement.

MIDIS worked with Bristol to lend, as part of a wider debt refinancing process, a £45 million nominal note that matures in 2030. The overall refinancing combines a mix of tenors and liquidity sources.

The deal is the second airport financing that MIDIS has completed, following the announcement in February this year that MIDIS had partnered with Heathrow to provide a £115 million inflation-linked Class B note maturing in 2036.

Tom Van Rijsewijk, associate director at MIDIS, said in a statement: “Bristol Airport is an asset that offers an attractive investment opportunity for our institutional and pension fund clients. It is an established infrastructure business with a resilient operating history and a strong management team. Our experience and expertise in this sector allowed us to secure an excellent investment for our clients and provide certainty of execution to Bristol Airport.”

Jim McAuliffe, finance director at Bristol, added: “MIDIS has experience and insight into working with airports, understanding our long-term financing needs and allowing us to secure funding quickly with a smooth execution process.”

The MIDIS platform comprises a pooled fund and separately managed accounts. MIDIS has total commitments of £1.5 billion for its infrastructure debt strategy, which targets investment-grade issuers in sectors such as utilities, renewables, transport and social housing.