Auckland International airport has raised NZ$150 million ($128 million) in a wholesale floating bond rate issue.
The bonds, which were only made available to local institutions, carry a three year tenure and a margin of 60 basis points.
Chief financial officer of the airport Simon Robertson says that some of the funds will be used to complete a NZ$450 million capital return to shareholders planned for this year.
“While the floating rate bond was not a public offer, we are considering undertaking a public bond offer as a next step in refinancing the bridge facilities we put in place to fund our capital return,” he adds.
Auckland airport recorded a 14% rise in underlying profit after tax to NZ$86.7 million for the first half of the 2014 financial year. It has given guidance that it expects to record a full-year net profit of between NZ$166 million and NZ$172 million.