Friday 17th October 2008
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What is it called and what sort of savings product is it?
Auckland International Airport (AIA) is looking to raise up to $130 million through an unsecured, unsubordinated bond issue.
Who is the company behind it?
The issuer is NZX-listed company Auckland Airport, which was subject to various takeover bids earlier this year. The company has an A Standard and Poors rating.
The offer is being organised by brokers First New Zealand Capital.
Who is the target market?
Anyone wanting a long, strong fixed interest investment.
What return does it offer?
The bonds have a starting interest rate of 8 per cent, with interest paid twice a year in May and November.
When was it launched?
The offer opened on October 15 and closes on November 3.
What other products is it like or is it competing with?
In the current market conditions this offer will be up against all the deposit taking institutions which have a guarantee under the new scheme announced by the government on Sunday.
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