Giving you all the latest in Stock Market Information as it happens...


Melbourne Airport $1.25b Refinancing

Melbourne Airport announced today it had successfully completed a $1.25 billion refinancing. The refinancing encompasses new bank facilities including a $300 million two-year facility along with a $600 million four-year facility. Melbourne Airport also placed $350 million of domestic notes last week with a number of domestic and international institutions. The bank facilities are provided by ANZ, Commonwealth Bank, NAB and Westpac, all of whom have been long term supporters of Melbourne Airport, and by new lenders Bank of Nova Scotia Asia Limited, Bank of Tokyo-Mitsubishi UFJ, Ltd and Crédit Industriel et Commercial. The Chief Executive of the Australian Infrastructure Fund, Jeff Pollock, said: “This is a significant milestone for Melbourne Airport and management is to be congratulated at completing the refinancing on very competitive terms. The refinancing will assist Melbourne Airport to fund its growth capex projects and further confirms its position as one of Australia’s pre-eminent airport assets.” Earlier this month, Melbourne Airport announced an all time record month for passengers with total passenger numbers up 13.4 percent when compared with July 2009. International growth was up 16.4 percent, and domestic growth was up 12.7 percent compared to the previous corresponding period. Melbourne Airport continues to be rated A- by Standard & Poor’s and A3 by Moody’s. AIX’s ownership of APAC is 12.39 percent, and APAC represents 25.2 percent of the AIX portfolio by value.