Auckland International Airport is considering issuing an offer of up to $125 million in bonds later this month, which would take its total bond issuance beyond half a billion dollars.
AIA already has a series of five bonds on issue, maturing between 2011 through to 2016, respectively worth $70 million, $50 million, $100 million, $130 million and $50 million.
A further $125 million issue would take the tally to $525 million.
Details of the five-year direct, unsecured, unsubordinated debt offer, including the interest rate, would be released in an investment statement and prospectus when the offer opened later this month, and was expected to close in late November.
Craigs Investment Partners broker Peter McIntyre said the previous offers were well received by investors and fully subscribed, noting they had been attractive to large institutional investors.
The previous five bonds had carried an international rating from Standard & Poor's of A- since issuance and the sixth issue was expected to carry the same rating, he said.
