Less than a year after nailing down a complex £13bn ($20bn) refinancing for its UK airports business, Spanish infrastructure group Ferrovial is back in a huddle with bankers trying to secure new terms on more than €3bn ($4.2bn) of parent group debt.

The sum includes loans taken out in 2006, when the company and its financial partners paid £10.3bn for BAA, the UK airports operator that the country’s Competition Commission says must be broken up.