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


Auckland Airport launches fixed rate bond offer to public

Auckland Airport launches fixed rate bond offer to public

Auckland International Airport Limited (“Auckland Airport”) confirmed today that it is offering up to NZ$150 million fixed rate bonds to the New Zealand public. The bond issue will be undertaken in reliance on the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013.

The offer is expected to open tomorrow, 20 May 2014, and the indicative margin for the bonds is 0.90% per annum. An announcement of the actual margin and interest rate on the bonds will be made following the bookbuild process, expected to be on 23 May 2014.

The bonds will mature on 28 May 2021 and are expected to be quoted on the NZX Debt Market.* The bonds are expected to be assigned a long-term credit rating of A- by Standard & Poor’s.

Simon Robertson, Auckland Airport’s chief financial officer, says, “The proceeds from the issue will be used to partially refinance our $454 million capital return to shareholders as well as other general corporate purposes.”

“Full details of the bond issue are contained in the terms sheet which has been prepared for the offer and is attached. A copy of the presentation that Auckland Airport will be giving to investors is also attached.”

“ANZ Bank New Zealand Limited has been appointed as Lead Manager for the issue. Deutsche Craigs Limited and Forsyth Barr Limited have been appointed as Co-Managers,” says Mr Robertson.

There is no public pool for the bond offer, with 100% of the bonds reserved for clients of the Lead Manager and Co-Managers, institutional investors and other market participants. Investors can register their expressions of interest by contacting their normal financial advisers or the Lead Manager or Co-Managers:

* Application has been made to NZX Limited for permission to quote the bonds on the NZX Debt Market and all the requirements of NZX relating to that application that can be complied with on or before the date of the terms sheet have been duly complied with. However, NZX accepts no responsibility for any statement in the terms sheet or this announcement. NZX is a registered exchange, and the NZX Debt Market is a registered market, each regulated under the Securities Markets Act 1988.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news