24 Dec 2008

$50 million in bonds raised by airport company

6:07 am on 24 December 2008

Wellington International Airport Ltd has raised $50 million in bonds and will accept subscriptions for another $50 million.

The offer is for unsecured unsubordinated five-year, fixed-rate bonds.

The airport company says proceeds from the bonds will be used to retire some existing debt. Any additional proceeds will be used for general operations at the airport, including capital expenditure and growth opportunities.

Meanwhile, Auckland International Airport Ltd is considering another $50 million bond issue. It previously raised $130 million in bonds in November.