NORD/LB and eight banks have signed a combined £490 million ($654 million) refinancing package for London City Airport, enabling it to refinance existing debt and deliver infrastructure upgrades.
London City Airport is the U.K. capital’s most central airport. A supplementary capital expenditure (capex) provision will allow the airport to implement a range of IT and terminal infrastructure upgrades, including increased check-in desk capacity, additional luggage belts, improvements to lounge areas and expansions to car parking facilities. A portion of the financing also will be used to support community programs designed to manage and reduce the impact of aircraft noise within the local area.
London City Airport has set a goal of becoming one of the most sustainable airports in Europe and achieving net-zero emissions by 2030 — an initiative that is of strategic importance to NORD/LB when it looks at investment opportunities.
NORD/LB said the deal underscores
