Melbourne Airport completes $700m debt refinancing
May 19, 2008
Melbourne Airport today announced that it had completed $700 million debt refinancing activities.
The refinancing allows for repayment for bonds that are due in June, with the balance to provide funding for planned expansion projects at Melbourne Airport.
The refinancing is being provided by Commonwealth Bank, Westpac, ABN AMRO, Deutsche Bank, NAB and ANZ, all of who have been long term supporters of Melbourne Airport.
Melbourne Airport Chief Financial Officer Kirby Clark said that this significant refinancing was recognition of confidence in Melbourne Airport’s operations despite uncertainty in global financial markets.
“Melbourne Airport is considered a sound, consistently strong-performing business – evidenced by the confidence in our operation shown by these financial institutions,” said Mr Clark.
The refinancing has been rated A- by Standard & Poor’s and A3 by Moody’s.