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
- Housing stats show just about everything's getting worse
- Sir Bob Jones: Why the newspaper industry is deservedly dying
- Air NZ reiterates warning to shareholders of increased competition
- ACC buys high, sells low as Intueri surprises investors with cascade of bad news
- Little leaves centre wide open for Peters and Greens
Most listened to
- Week in Review: a wrap of NBR Radio's top stories, interviews and analysis
- Matthew Hooton: Little leaves centre wide open for Peters and Greens
- ASB's Kim Mundy and Realestate.co.nz's Vanessa Taylor on the latest housing statistics
- Rob Hosking: Winston’s hour is coming
- Hunter's Corner: High stakes for both sides of Warminger case