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Auckland International Airport Launches Retail Bond Offer

09 Oct 2017  |  08:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Auckland Airport Launches Retail Bond Offer

Auckland International Airport confirmed that it is offering up to NZ$75m of fixed rate bonds maturing in April 2023 (with the ability to accept up to NZ$25m of oversubscriptions at its discretion) (the Bonds) to NZ retail investors and to institutional investors. The offer will open with an indicative margin range of 0.82% to 0.87 % p.a. and the Bonds will mature on 17 April 2023. An announcement of the actual margin and the interest rate on the Bonds will be made following the conclusion of the bookbuild process, which is expected to be on 11 October 2017. The Bonds are expected to be assigned a long-term credit rating of A- by Standard and Poor's.

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