Auckland Airport completes A$300 million AMTN issue
Auckland International Airport Limited (Auckland Airport) has completed a new Australian medium-term notes (AMTN) issue of A$300 million of 6-year fixed rate bonds due 19 November 2032. The final order book exceeded A$1,000 million, and the issue is expected to be rated A- by S&P Global.
The issue used the company’s wholesale AMTN programme, so it was open to institutional investors only. Funds are to be used to fund the company’s investment programme, and CBA and Mizuho were the joint lead managers.
Stewart Reynolds, Chief Financial Officer
“Demand for this issue was strong, with an order book more than three times the amount raised…”
Reynolds also said the company was “very pleased with the depth of support for Auckland Airport across both domestic and offshore debt markets…”
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Part of a broader funding push
- This was the fourth issue into the Australian market by Auckland Airport.
- It follows a recent New Zealand retailable bond issue earlier this month.
- Combined, the two issues raised over $700 million in capital to fund what Reynolds called the company’s “transformational investment programme”.
The investment programme sits within the finalised 2026 Master Plan, which ties spending to demand and affordability, includes a domestic jet terminal already under construction, and makes no commitment yet to a second runway.
That domestic retail bond issue closed at a fixed 4.74% a year, with a planned floating rate tranche dropped once orders came in well above the amount first pitched.
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