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Auckland Airport gains as US investor sentiment tested

Monday 8th November 2010

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Auckland International Airport is testing American appetite for debt as it looks to roll over upcoming bank loans.  

The airport is holding a roadshow in the US to look at raising funds in a private placement to American investors, the company said in a statement.

The funds will be used to refinance debt maturing in March.  

Auckland Airport has a bank facility worth $125 million on a floating interest rate maturing in March, according to its 2010 annual report.

That’s about 10% of its total borrowings.  The shares were unchanged at $2.16 in trading today.

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