Auckland Airport to offer $125m in bonds

Auckland International Airport Ltd., the nation's busiest gateway, plans to raise $125 million selling five-year bonds to retail investors.

The airport company didn't give details of the debt such as the interest rate it will pay. In August, it sold $25 million of seven-year bonds in a private placement under its existing debt programme. It previously sold $130 million of the debt, which carries a coupon of 8 per cent and is rated A- by Standard & Poor's, in November last year.

The latest offer is expected to open later this month and remain open through until late November, the airport said in a statement today.

ANZ Bank and Goldman Sachs JBWere are managing the sale.Shares of Auckland Airport rose 1.6 per cent to $1.97 today and have climbed about 20 per cent this year.

- BUSINESSWIRE