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Auckland Airport bond issue in hot demand

Auckland Airport bond issue in hot demand

Auckland Airport today announced that its public offer of $80 million of retail bonds for cash has already been fully subscribed, less than a week after opening.

This does not include the reserve of $50 million set aside for holders of existing Auckland Airport unsubordinated, unsecured, fixed rate bonds maturing on 15 November 2008. Those existing bond holders can apply to have all or part of the principal of those bonds exchanged on maturity for the bonds under this offer. 

Subject to bond holder take-up of the exchange offer, any remaining bonds from the $50 million reserve will be placed on public offer on a first-come first-served basis.  

Chief financial officer for Auckland Airport, Jason Dale, said, “This is an important and exceptionally pleasing expression of the market’s confidence in Auckland Airport at a time of very uncertain investment conditions. The strength of the demand indicates that quality, long-term investment opportunities will always remain in vogue.”

The bonds offer investors an opportunity to invest in an iconic kiwi long-term infrastructure business.

Interested members of the public should contact their financial advisors or share brokers, or First NZ Capital Securities (First NZ Capital) on 0800 162 222 to request an investment statement. 

The bonds will be direct, unsecured, unsubordinated debt obligations of Auckland Airport. The bonds will have a maturity date of 15 November 2016.  The minimum holding in respect of the bonds is $10,000 and in multiples of $1,000 thereafter.

Application has been made to NZX for permission to list the bonds and all the requirements of NZX relating thereto that can be complied with on or before the date of distribution of this announcement have been duly complied with.  However, NZX accepts no responsibility for any statement in this announcement.



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