Auckland International Airport Limited bond issue
6 July 2004
Auckland International Airport Limited bond issue (Auckland International Airport Limited appears on the NZX and ASX as “AIA”)
The board of Auckland International Airport Limited (“AIAL”) has approved AIAL making an offer of securities (“Bonds”) to the public and as a result AIAL will be issuing an investment statement. No money is currently being sought and no applications for Bonds will be accepted or money received unless the subscriber has received an investment statement. Bank of New Zealand has been appointed as lead manager to the issue of Bonds that AIAL is considering. First NZ Capital has been appointed organising participant and co-lead manager. ABN
Amro Craigs Limited and Forsyth Barr Limited have been appointed co-managers. AIAL is seeking indications of interest for the Bonds. Indications of interest should be directed by NZX participants and other financial intermediaries to Kevin Mitchelson at the Bank of New Zealand, whose contact details are given below. Members of the public should indicate their interest to NZX participants or their financial advisers or intermediaries. No indication of interest will create an obligation or commitment of any kind.
The Bonds AIAL is intending to offer will be unsecured, unsubordinated debt obligations, issued under a master trust deed, registered prospectus and investment statement. The Bonds will be issued in different Series. A Series can be made up of a number of Tranches. Each Tranche in a Series will be identical apart from the date of issue and the first interest accrual date.
The Bonds that AIAL is considering offering to the public are:
Series 06 08 09 11 Maturity date 15 Nov. 2006 15 Nov. 2008 15 July 2009 15 July 2011 Interest rate Fixed rate coupon paid semi-annually Fixed rate coupon paid semi-annually Fixed rate coupon paid semi-annually Fixed rate coupon paid semi-annually Amount intended to be offered Up to $25 million Up to $25 million Up to $75 million Up to $45 million, with oversubscriptions of up to $30 million
In addition, AIAL will be offering holders of its existing bonds the opportunity to exchange these for
Bonds of the same maturity. An investment statement to allow current holders to exchange will be distributed around the opening of the offer. Any amounts issued in this exchange will be in addition to the amounts above.
The actual interest rates will be determined and announced on the opening date of the offer. AIAL will use the proceeds of the intended offer for refinancing of existing debt, for the airport’s capital projects and for general funding purposes. AIAL is also intending offering to institutional investors floating rate bonds with the same maturities as the above Series of Bonds.
Bonds will be offered in 3 ways:
1. Fixed interest rates, fixed issue price, $10,000 minimum subscription Payment must be by cheque with the application form.
2. Fixed interest rates, issue price set at margin to swap, $100,000 minimum subscription The issue price will be set after the close of the offer at a margin to swap set at the start of the offer. Payment must be through Austraclear or through agreed direct credit arrangements on the issue date.
3. Floating rate interest rates at margin to 3 month bank bills, $100,000 minimum subscription The margin will be set at the start of the offer. Payment must be through Austraclear or through agreed direct credit arrangements on the issue date. Brokerage will be payable to NZX Firms and approved financial intermediaries and institutions on successful applications. Please contact the lead manager if you wish to be on the approved list.
The opening date for the offer will be Monday 12 July 2004 and the closing date will be Monday 26 July 2004. AIAL reserves the right to alter these dates. Application has been made to NZX for permission to list the fixed rate bonds on the NZDX and all the requirements of NZX relating thereto that can be complied with on or before the date of distribution of this statement have been duly complied with. However, NZX accepts no responsibility for any statement in this statement.