Newcastle International airport takes off with £49.5m from RBS

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Newcastle International airport takes off with £49.5m from RBS

Newcastle International Airport has received a £218.5m refinancing package from a consortium of banks including £49.5m from The Royal Bank of Scotland Corporate & Institutional Banking (“RBS CIB”) team in the North East.

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20 November 2012

Located just six miles from Newcastle’s city centre, Newcastle International Airport is the North East’s largest airport, handling over four million passengers per year.  It now offers over 80 destinations worldwide and continues to be successful in attracting and developing new routes.  In 2012 its success was recognised with the award of the Airport Operator’s Association Airport of the Year award (under 6m passengers) for the fourth year in a row.

The airport has ambitious expansion plans, including the development of Newcastle International Business Park, which has a projected 1m square feet of business space.  It has also recently completed the construction of a £3.2m terminal development, primarily focussed on improving passenger service through security.

The latest refinancing package follows the purchase of a 49% stake in the airport by AMP Capital, a leading global investment manager, with the 51% majority stake remaining with seven North East local authorities, collectively known as LA7.

"We are delighted to have finalised this refinancing deal with RBS. The support we have received from RBS since 2006 has been outstanding; this loan package will help to secure our future and allow us to continue our growth."

Simon Fisher, Finance Director at Newcastle International Airport

"We are proud to have been able to support Newcastle Airport in this latest deal. The airport is a key part of the infrastructure in the North East and their continued success is crucial to the overall economic health of the region. We look forward to working with them long into the future."

John Dryden, Regional Director at RBS CIB North East

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