AUSTRALIA Pacific Airports Melbourne, owner and operator of Melbourne Airport, sold $350 million of bonds in its first domestic debt sale since 2005.
The owner of Australia's second-busiest airport priced $250 million of six-year notes to yield 190 basis points more than the swap rate and $100 million of four-year notes at a 160 basis-point spread, according to a statement from ANZ Banking Group, which managed the sale with Westpac Banking Corp.
''The transaction is consistent with our strategy of diversifying funding sources,'' said chief financial officer Kirby Clark.
Australia Pacific Airports, rated A- by S&P, is part-way through a $330 million project to expand Melbourne's international terminal.
