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Infratil Infrastructure Bond Programme

14 Dec 1999

$25 MILLION ISSUANCE TARGET EXCEEDED
Infratil's Infrastructure Bond Programme has been well received by the market raising $30 million during its initial offer period from 15 November to 3 December. Infratil is using swaps to manage its interest rate risk from the Bonds. Over the medium term this should provide a cost of funds lower than the bank funding that the Infrastructure Bonds are replacing.


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