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Wellington International Airport Limited has announced an offer of up to $60,000,000 eight year, unsecured, unsubordinated fixed rate bonds (Bonds) to New Zealand resident retail and institutional investors.

The Bonds will have a maturity date of 5 August 2024.

WIAL has announced the indicative margin range for the Offer of 1.65% p.a. to 1.75% p.a. (subject to a minimum interest rate of 4.00% p.a.). Based on the swap rate on 25 July 2016, of 2.26%p.a. for the period until 5 August 2024, the indicative issue margin implies a nominal interest rate for the offer of 3.91% to 4.01%p.a. (subject to the minimum of 4.00%p.a.). This is an indication only. The actual nominal interest rate could be set higher, lower or within this indicative range (subject to the minimum of 4.00%p.a) and the actual nominal rate will not be known until after the book build which is to be held on Friday 29 July 2016.

The Offer is being made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities.

WIAL’s issuer credit rating is BBB+ from Standard & Poor's (subject to change). There is no specific issue rating for the Bonds.

The Bonds are expected to be quoted on the NZX Debt Market.


KEY DETAILS

The full details of the Offer are contained in the Offer Document.

KEY DATES (Indicative only and subject to change by the Issuer)

Offer Documents Available: Monday 25 July 2016
Offer Opening Date: Monday 25 July 2016
Bookbuild Date: Friday 29 July 2016
Closing Date for the Offer: 12.00 pm Friday 29 July 2016
Expected Announcement of Interest Rate: Friday 29 July 2016
Expected Settlement Date for Successful Applicants: Friday 5 August 2016
Expected Listing Date: Monday 8 August 2016