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News on New Investment

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Auckland International Airport is issuing up to $150m unsecured unsubordinated fixed rate notes with a seven year maturity.

The issuer holds an A- credit rating with Standard and Poors. The issue opens on Tuesday the 20th of May and closes on Friday the 23rd of May.

The coupon will be set at 90 bps over the prevailing 7 year swap rate. At current yields this would equate to a coupon of approximately 5.45%.

The lead manager is ANZ Bank.