Auckland International Airport, [NZX: AIA] 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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Green party co-leader James Shaw and Business NZ's John Carnegie go head-to-head on the ETS review
- Cream Trading CEO Kevin O'Sullivan on why dairy companies might want to sign up to the new trading platform
- Paul Brislen on the merits of "cutting off the money" versus Netflix' technical attempts to shut-out unblockers
- Westpac's Dominick Stephens says dairy prices are still a major concern, despite El Niño fears fading
- London School of Economics Professor John Kay discusses financial regulatory shortcomings