DAVOS-Ferrovial has no plans to tap equity markets
DAVOS, Switzerland |
DAVOS, Switzerland Jan 29 (Reuters) - Spain's Ferrovial (FER.MC) has no plans to tap equity markets in 2010, though its British airport operator BAA will continue to raise cash through bond issuance, chairman Rafael del Pino said on Friday.
Del Pino told Reuters BAA tapped bond markets "continuously" and did not have a target.
"BAA no doubt suffered from regulatory uncertainty," he said on the sidelines of the World Economic Forum. "Now this is gone and we have a good rating. So now we'll tap the markets."
Asked whether Ferrovial would consider selling a stake in assets like the Indiana Toll Road, he said this was one of the mature assets from which the company had extracted the main value, adding it would be brought to market in due course.
Del Pino also said bidding for infrastructure had become less competitive as purely financial players were forced out by the credit crisis, leading to improved returns.
"It is getting a bit better," he said. "Now it is more for the industrial players like us. The deals have a better return."
(Reporting by Paul Taylor)
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