The demand for any kind of securitised bond issue has fallen rather dramatically since 2008 - the whole concept becamse a bit of a dirty word when Bear Stearns and Lehman blew up. Any bank would have a challenge now and for the next few years persuading insurers and pension funds to invest in a securitised bond
Furthermore, securitisation sometimes puts quite stringent rules around the issuing company so as to persuade investors that there won't be any surprises. These stringent rules tend to stifle change or innovation - one is essentially remortgaging the airport in return for a big pile of cash upfront. In cases like this where the owner of the airport and the company paid to manage the airport are different, some conflict of interest issues may arise over the future of the airport.
Last edited by davidjohnson6; 7th Jun 2012 at 20:38.