RLPC-BAA's 7.15 bln pound refi loan to launch soon-sources

LONDON (Reuters) - A 7.15 billion pound loan to partly refinance the debt used by Spanish conglomerate Ferrovial to acquire UK airport operator BAA, will launch to syndication imminently, banking sources said on Friday.

Ferrovial has been attempting to renegotiate the debt package used to acquire BAA over the past year but the global credit crunch and the slowdown in the Spanish construction market following a decade of boom times has deterred lenders and investors.

The loan is being arranged by bookrunners BBVA, BNP Paribas, Caja Madrid, Calyon, Citigroup, HSBC, Royal Bank of Canada, Royal Bank of Scotland and Banco Santander.

The loan is split into 4.4 billion pounds of refinancing facilities and 2.75 billion pounds of capital expenditure and working capital facilities.

The refinancing facilities mature in 2010 and 2013 while the capex and working capital facilities carry a five-year maturity.

(Reporting by Alasdair Reilly; Editing by Quentin Bryar)