July 24, 2014 / 9:57 PM / 3 years ago

Auckland Airport prices $250 mln loan in US private placement

WELLINGTON, July 25 (Reuters) - Auckland International Airport on Friday said it had priced a $250 million loan in the U.S. Private Placement market to refinance a capital return paid to shareholders earlier in the year, along with a bond maturing later this year.

The 12-year loan tranche has a U.S. dollar coupon of 3.61 percent and will be drawn on Nov. 25, the operator of the country’s largest airport said.

Auckland Airports said that the entire proceeds of the loan have been swapped back into New Zealand dollars to provide funding over 12 years at the New Zealand three-month bank bill rate plus 1.255 percent. (Reporting by Naomi Tajitsu; Editing by Diane Craft)

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