Auckland Airport launches NZ$150m fixed rate bond offer

Auckland International Airport Limited has launched a retail offer of up to NZ$150 million fixed rate bonds, with flexibility to accept an additional NZ$50 million in oversubscriptions. These five-and-a-half-year bonds will mature on 8 April 2031 and are expected to be quoted on the NZX Debt Market. The offer opened on Monday, 29 September 2025, and is scheduled to close at 11:00 am on Wednesday, 1 October 2025.

The retail bonds will have an indicative margin range of 0.85 per cent to 0.90 per cent per annum. The actual margin and interest rate will be determined after a bookbuild process concludes on 1 October 2025. S&P Global Ratings is expected to assign a long-term credit rating of A- to the retail bonds. The minimum principal amount for the bonds is NZ$10,000, with multiples of NZ$1,000 thereafter.

There is no public pool for the retail offer, with all bonds reserved for clients of joint lead managers ANZ Bank New Zealand Limited and Westpac Banking Corporation, along with NZX participants, other approved financial intermediaries, and institutional investors. The maximum aggregate amount of bonds issued under both the retail offer and a concurrent wholesale offer of floating rate bonds maturing in October 2028 will not exceed NZ$300 million.