Auckland Airport launches fixed rate bond offer to public

Auckland International Airport Limited ("Auckland Airport") confirmed today that it is offering up to NZ$150 million fixed rate bonds to the New Zealand public. The bond issue will be undertaken in reliance on the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013.

The offer is expected to open tomorrow, 20 May 2014, and the indicative margin for the bonds is 0.90% per annum. An announcement of the actual margin and interest rate on the bonds will be made following the bookbuild process, expected to be on 23 May 2014.

The bonds will mature on 28 May 2021 and are expected to be quoted on the NZX Debt Market.- The bonds are expected to be assigned a long-term credit rating of A- by Standard & Poor’s.

Simon Robertson, Auckland Airport’s chief financial officer, says, "The proceeds from the issue will be used to partially refinance our $454 million capital return to shareholders as well as other general corporate purposes."

"Full details of the bond issue are contained in the terms sheet which has been prepared for the offer and is attached. A copy of the presentation that Auckland Airport will be giving to investors is also attached."

"ANZ Bank New Zealand Limited has been appointed as Lead Manager for the issue. Deutsche Craigs Limited and Forsyth Barr Limited have been appointed as Co-Managers," says Mr Robertson.

There is no public pool for the bond offer, with 100% of the bonds reserved for clients of the Lead Manager and Co-Managers, institutional investors and other market participants. Investors can register their expressions of interest by contacting their normal financial advisers or the Lead Manager or Co-Managers:

ANZ: 0800 269 476

Deutsche Craigs: 0800 226 263

Forsyth Barr: 0800 367 227

- Application has been made to NZX Limited for permission to quote the bonds on the NZX Debt Market and all the requirements of NZX relating to that application that can be complied with on or before the date of the terms sheet have been duly complied with. However, NZX accepts no responsibility for any statement in the terms sheet or this announcement. NZX is a registered exchange, and the NZX Debt Market is a registered market, each regulated under the Securities Markets Act 1988.