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Auckland airport starts NZ$125m bond offer

Auckland International Airport (AIA) has followed through with its plan to offer NZ$125 million ($90 million) in bonds to help with its immediate financing needs.

Retail and institutional investors are invited to buy the bonds that pay 7% interest per annum, the airport says in a New Zealand stock exchange filing. The offer is open until 27 November, or to the date that it is fully subscribed.

AIA announced in mid-October that it planned to use the money to refinance NZ$125 million in debt that is maturing in March 2010.

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