Sydney airport completes debt restructuring

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Sydney airport has completed an Australian dollars (A$) 1.1 billion ($1.15 billion) debt raising that will address maturities due next year and help finance its capital expenditure programme.

The airport says that it raised $825 million in US144A bonds that will mature in the first quarter of 2023, and A$300 million in bank facilities that will mature in 2016 and 2017.

"During the refinancing process, Sydney airport received very strong support from both international and domestic bond and bank markets," says chief executive Kerrie Mather.

"It is very pleasing to address the 2013 maturities 12 months in advance, extend the average maturity of the debt portfolio and achieve all-in pricing well inside the existing average of 6.5%," she adds.