Malaysia Airports and Cheung Kong spice up loans pipeline

Malaysia Airports, which counts sovereign fund Khazanah as a major shareholder, is expected to begin syndicating a 500 million $588 million loan for its Turkish airport this week.

Malaysia Airports, which last year bought an additional 40% stake in Istanbul Sabiha Gokcen Airport for 279 million and is rated A3 by Moody's, is looking to refinance the debt owed by Turkey's second-largest airport on better terms.

Istanbul Sabiha Gokcen Airport is one of two international airports serving Istanbul and a beneficiary of fast-rising traffic in Europe. According to a research report by Maybank last year, Istanbul has the highest passenger traffic growth in Europe and...