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Auckland Airport bond issue opens

Auckland Airport bond issue opens

Auckland International Airport Limited's (Auckland Airport) retail bond issue programme opened to interested parties today, offering investors an opportunity to invest in an iconic kiwi long-term infrastructure business.

Auckland Airport is making a public offer of $80 million of bonds with an option to accept $50 million oversubscriptions. The interest rate initially being offered for the full eight year term of the bonds is 8.0%. The interest rate offered may change prior to allotment but will not change in respect of a bond that has been allotted. Applicants can obtain up-to-date details of the interest rate applicable from time to time by contacting First NZ Capital Securities (First NZ Capital) on 0800 162 222, or their investment advisor.

Auckland Airport is issuing bonds to raise money to fund the general business activities of the company. First NZ Capital has been appointed lead manager for this bond issue.

Interested members of the public should contact their financial advisors or share brokers and request an investment statement. Holders of existing Auckland Airport unsubordinated, unsecured, fixed rate bonds maturing on 15 November 2008 can apply to have all or part of the principal of those bonds exchanged on maturity to the bonds under this offer. A pool of $50 million has been set aside for this purpose.

A prospectus and investment statement are also available through Auckland International Airport's website: or by calling 0800 162 222 to speak to First NZ Capital.

The bonds will be direct, unsecured, unsubordinated debt obligations of the Issuer. 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. Standard and Poor's have assigned a rating of 'A' to the bonds.

The offer may remain open until 31 March 2009 or such earlier date that the Issuer may determine. No applications for the bonds will be accepted or money received unless the subscriber has received an investment statement.


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