16 May 2005
Infratil has closed its issue of February 2020 Bonds, having achieved its target of raising $20 million.
The primary objective of undertaking this issue was to ascertain investor interest in a fifteen year bond and in this context the result is gratifying.
In 2001, Infratil undertook a similar test of demand for ten year Bonds and found that once investors and market participants had become familiar with longer terms they quickly developed a willingness to invest in such securities.
In November 2005 Infratil has $49.4 million of bonds maturing and Infratil is reviewing its options in respect of this funding. These bondholders may be offered an opportunity to roll-over their investments but before any decision is made market circumstances and alternative funding options will be canvassed.
The support of investors and the banks and brokers that have assisted Infratil with this issue is appreciated.
Infratil's Bond maturity profile now is:
November 2005 $49.37 million
November 2011 $20.00 million
September 2013 $85.28 million
November 2015 $70.70 million
February 2020 $20.00 million
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