Wellington Airport opens NZ$100 mln retail bond offer with 7.5% rate

Wellington Airport has opened its 5 year retail bond offer to raise up to NZ$100 million with an initial interest rate of 7.5%. The BBB+ rated bonds are due to mature on November 15, 2013 and the issue is being lead managed by First NZ and ANZ National Bank. The offer is due to close in April next year. The Wellington City Council is considering selling a 12% stake of its overall 34% holding in the airport. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.