Auckland Airport’s bond offer opens

Auckland International Airport's (AIA) $150 million fixed rate bond offer opened today.

The proceeds of the offer will be used to partly refinance the bridging facility AIA arranged to cover its recent capital return to shareholders of up to $200 million.

There is no public pool and the bonds are only available to New Zealand wholesale investors and New Zealand Exchange (NZX) participants for a minimum subscription of $10,000.

Bank of New Zealand is lead manager, while First NZ Capital is organising participant and a co-lead manager.

Both seven and 10-year bonds are on offer. They will pay interest semi-annually.

The offer will close tomorrow, November 1, and the interest rates payable on each tranche of bonds is expected to be set on November 3.

- NZPA