AIA bonds offer 7.25%

Auckland International Airport has opened a retail bond looking to raise $50 million. The interest rate initially being offered for the full term of the bonds is 7.25%.

Tuesday, January 13th 2009, 7:12AM

The interest rate offered may change prior to allotment but will not change in respect of a bond that has been allotted.

The bonds will have a maturity date of 28 February 2014.

Auckland Airport is issuing bonds to meet some of the excess market demand from the successful bond issue that closed in November 2008. First NZ Capital Securities Limited has been appointed as Arranger, Organising Participant and Joint Lead Manager for this bond issue, and ASB Bank Limited and Goldman Sachs JBWere (NZ) Limited have been appointed as Joint Lead Managers.

The bonds are direct, unsecured, unsubordinated debt obligations . The minimum holding in respect of bonds is $10,000 and in multiples of $1,000 thereafter.

The bonds will be listed on the NZDX and Standard & Poor's have assigned them a rating of 'A'.

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AIA bonds offer 7.25%

Auckland International Airport has opened a retail bond looking to raise $50 million. The interest rate initially being offered for the full term of the bonds is 7.25%.

Tuesday, January 13th 2009, 7:12AM

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