Auckland Airport considers NZ$150m bond issue

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Auckland International Airport (AIAL) has started taking preliminary expressions of interest for a NZ$150 million ($129 million) public bond issue that could take place later this month.

“Full details of the bond issue will be released around 19 May, however we expect the bonds to have a seven year maturity and be unsecured and unsubordinated,” says the airport’s chief financial officer Simon Robertson.

The bonds are expected to be quoted on the NZX Debt Market, he adds. Proceeds from the issue will go towards general corporate funds, and also partly fund AIAL's NZ$454 million capital return programme.

AIAL has appointed ANZ Bank as lead manager for the issue, while Deutsche Carigs and Forsyth Barr have been appointed as co-managers.

In April, AIAL conducted a NZ$150 million floating rate bond issue to New Zealand wholesale investors, at which time it indicated that it may consider a public offer to assist with funding the capital return programme.