MAG Secures £280M Bank Loan

Manchester Airports Group (MAG) has acquired a £280 million loan facility from seven banks, Financial Times reports. The new five-year loan will replace MAG’s £300 million existing facility with six banks.

The proceeds from the facility may be used by the company to upgrade its terminals. The banks, Barclays, Co-operative Bank, Handelsbanken, RBS, HSBC, YorkshireBank and Santander, have each extended £40 million towards the facility.

Click here for the story from Financial Times.

Click here for the additional coverage from Manchester Confidential.