Wellington Airport to sell $100m of bonds

Friday 28th November 2008

Wellington International Airport plans to raise as much as $100 million selling bonds maturing in 2013 to fund general business expenses and pay debt.

The offer will be for $50 million of the bonds with oversubscriptions of an additional $50 million, it said in a statement.

The airport company will retain the right to redeem the bonds early at the higher of either market value of par plus accrued interest, it said. The interest rate will be set following the opening of the offer, it said.

ANZ National Bank and First NZ Securities have been appointed managers of the offer.

By Jonathan Underhill

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