The airport today opened its biggest-ever expansion project. Auckland Airport Chief Executive Carrie Hurihanganui and PM Christopher Luxon front media. Video / Auckland Airport
Auckland Airport says it wants to raise up to $300 million by issuing bonds.
The airport today told the NZX it was offering up to $150m of five-and-a-half year fixed rate retail bonds.
The airport was also considering making an offer of floating rate wholesale bonds maturing in October2028.
“Retail investors may not participate in the wholesale offer,” the airport said today.
Prime Minister Christopher Luxon on a tour of Auckland International Airport’s integrated terminal build site with airport chief executive Carrie Hurihanganui in June. Photo / Dean Purcell
The airport is also building flexibility for possible jet services to regional centres in the future in a $147m upgrade expected to finish in 2028.
The retail bonds are expected to be quoted on the NZX debt market.
The retail offer opens today and will be made pursuant to the Financial Markets Conduct Act as an offer of debt securities of the same class as existing quoted debt securities.
The retail offer will open with an indicative margin range of 0.85% to 0.90% a year and the retail bonds will mature on April 8, 2031.
An announcement of the retail bonds’ actual margin and interest rate is expected on October 1.
There is no public pool for the retail offer, with 100% of bonds reserved for clients of ANZ, Westpac, NZX participants, other approved financial intermediaries and institutional investors.
The maximum amount of bonds to be issued by Auckland Airport under the retail offer and wholesale offer together would not exceed $300m.
John Weekes is a business journalist covering aviation. He has previously covered consumer affairs, crime, politics and courts.
