Melbourne Airport executes new A$1.1 billion syndicated bank facility
Mar 03, 2014
Australia Pacific Airports (Melbourne) Pty Limited (APAM or Melbourne Airport) is pleased to announce that it has today successfully executed a new $A1.1 billion syndicated bank facility.
The new facility, which is being provided by a syndicate of 11 banks, is split equally across two and four year tenors.
Mr Adam Watson, Melbourne Airport’s Chief Financial Officer, said that this was another outstanding result for Melbourne Airport.
“We are delighted with the new facility as it supports the transformation and long-term development of Melbourne Airport.”
“We received overwhelming support from the syndicate, which includes a number of new lending institutions to Melbourne Airport. “This facility, along with other recent debt raising transactions, is testament to our robust operating model and strong capital structure,” said Mr Watson.
“The facility will replace the $600 million syndicated facility which matures in September 2014 and will support our targeted capital expenditure program. The new facility is also consistent with our previously stated strategy of extending and diversifying the average maturity profile of our funding sources.”
APAM is the only Australian airport group to hold A-/A3 rating.
APAM is a wholly-owned subsidiary of Australia Pacific Airports Corporation Ltd (APAC). APAC owns and operates both Melbourne Airport and Launceston Airport.