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AIA looks at bond issue

Tuesday 1st June 2004

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Auckland International Airport is considering making an offer of bonds to the public to raise money for general funding purposes.

The bonds it is intending to offer will be unsecured, unsubordinated debt obligations, issued under a master trust deed, registered prospectus and investment statement.

It is intending to raise $160 million with oversubscriptions of up to $30 million.

The bonds will be issued in different Series. A series can be made up of a number of tranches. Each tranche in a series will be identical apart from the date of issue and the first interest accrual date.

It is planning four series ending in November 2006, 2008, 2009, 2011. Interest will be paid twice a year.

In addition AIA is considering offering holders of its existing bonds the opportunity to exchange these for bonds of the same maturity.

The actual interest rates will be determined and announced closer to the time of the intended issue.

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