Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Auckland Airport raises $150 mln in wholesale bond issue

Auckland Airport raises $150 mln in wholesale bond issue, mulls retail offer

April 3 (BusinessDesk) - Auckland International Airport, the country’s main aviation gateway, raised $150 million in a wholesale bond issue, and is mulling a retail offer to help fund its capital return to shareholders.

The airport will use the funds raised from the wholesale issue to pay for part of the $454 million capital return on April 14, it said in a statement. The three-year floating wholesale bond was sold to New Zealand institutions and has a margin of 60 basis points.

“While the floating rate bond was not a public offer, we are considering undertaking a public bond offer as a next step in refinancing the bridge facilities we put in place to fund our capital return,” chief financial officer Simon Robertson said.

The capital return, which received High Court approval last month, will see the company cancel one in 10 shares at $3.43 apiece.

Shares in Auckland Airport rose 0.4 percent to $3.88 today.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Port Study: Port To Ship Out – No Departure Date

Interest groups in Auckland and its waterfront chose a group of representatives to determine the future of the port. Their consensus is that the Port is going to have to move but not before a credible location is confirmed... More>>

ALSO:

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Other Centres' Convention Centres:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news