Auckland Airport gains as US investor sentiment tested
Nov. 8 (BusinessDesk) – Auckland International Airport Ltd., the country’s main gateway, is testing American appetite for debt as it looks to roll over upcoming bank loans.
The airport is holding a roadshow in the U.S. to look at raising funds in a private placement to American investors, the company said in a statement.
The funds will be used to refinance debt maturing in March. Auckland Airport has a bank facility worth $125 million on a floating interest rate maturing in March, according to its 2010 annual report.
That’s about 10% of its total borrowings. The shares were unchanged at $2.16 in trading today.