Aeropuertos Espanoles y Navegacion Aerea, the Spanish airport operator, hired banks to arrange a 500 million-euro ($644 million) loan to refinance debt.
Banco Bilbao Vizcaya Argentaria SA (BBVA), Banco Santander SA (SAN) and La Caixa will organize the transaction, according to a Madrid- based official at Aena, who asked not be named because of company policy.
The state-controlled company manages 47 airports in Spain and had 1.68 billion euros of short-term debt at the end of 2011, according to its annual report.
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