Auckland Airport raises NZ$100m through floating rate notes

Auckland Airport has successfully completed an issue of NZ$100,000,000 in floating rate notes. These notes have a three-year term and carry a margin of 65 basis points over the base rate. The offering attracted both New Zealand and offshore institutional investors, with ANZ and Westpac serving as joint lead managers.

This new issue, in conjunction with a recently completed NZ$200,000,000 fixed rate bond, will be utilized to refinance a maturing NZ$150,000,000 floating rate note due on 13 October 2025. Additionally, the proceeds will contribute to funding Auckland Airport’s ongoing investment program.

Stewart Reynolds, chief financial officer of Auckland Airport, expressed satisfaction with the outcome. He highlighted that the issues reflect investor confidence in the business and its long-term outlook, acknowledging the continued support from retail and institutional investors as the airport transforms the gateway to New Zealand.