by Sonia Speedy
Richard Llewellyn, senior communications manager for Auckland Airport says advisers can expect to receive further information about the offer over the next week or so, with ANZ and Goldman Sachs JBWere the joint lead managers. The offer is likely to close in late November, if not before and preliminary indications of interest are currently being sought.
Full details, including the rate of interest payable, are expected to be released when the offer opens in late October. However, the bonds will be direct, unsecured, unsubordinated debt obligations of Auckland Airport, with a term to maturity of five years.
Llewellyn says the Airport has $125 million worth of debt maturing in March next year and the bonds will be used to cover that.
"We have two joint lead managers who have been appointed, I believe they have already started to speak to some financial advisers and we're intending to provide financial advisers with more information over the next week or so," he says.
He is "confident" the issue will proceed, but no documents have been registered yet.
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