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Sydney Airport is to tap the US bond market for US$500 million to refinance existing debt.
The Airport has today priced a US$500 million guaranteed senior secured note issue in the US bond market.
The notes have a coupon of 5.125 per cent for a term of 10 years, maturing in February 2021 and have been priced at 99.902 per cent of the principle amount.
Sydney Airport says it will use the proceeds from the notes to refinance existing debt facilities.
Southern Cross Airports Corp Holdings is the parent company of Sydney Airport Corp, operator of Sydney Airport, which is controlled by a number of entities including MAp Group Ltd (ASX:MAP).
MAp Group booked a loss of $5.83 million for the half year to June 30, 2010.
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