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WIAL Bond Offer Investor Presentation

2 May 2016

Wellington International Airport Limited (“WIAL”) has announced an offer of up to $50 million of seven year, unsecured, unsubordinated, fixed rate bonds maturing on 12 May 2023 to New Zealand retail and institutional investors, with the ability to accept up to $25 million oversubscriptions at WIAL’s discretion.

Full details of the bond offer are contained in the Terms Sheet, available through www.wellingtonairport.co.nz/bonds or by contacting a Joint Lead Manager or an NZX Participant, and must be obtained by investors before they decide to acquire any bonds.

The bonds are expected to be quoted on the NZX Debt Market. WIAL has a current issuer credit rating of BBB+ from Standard & Poor’s.

The indicative margin range above the 7 year swap rate for the bonds is 1.55% to 1.65% per annum, subject to a minimum interest rate of 4.25% per annum. An announcement of the actual margin and the interest rate for the bonds will be made following a bookbuild process, which is expected to be completed on 6 May 2016.

The offer will close on 6 May 2016 following the bookbuild process, with the bonds expected to be issued on 12 May 2016.

There is no public pool for the offer, with all of the bonds being reserved for the clients of the Joint Lead Managers, NZX participants and other approved financial intermediaries. Interested investors should contact the Joint Lead Managers or their usual financial advisor for more details. 

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