Capital Markets Group

NZD65m Bond Issue for Infratil to Buyout other Consortium Members in Wellington Airport

Morrison & Co acted for Infratil in its buy-out of the other consortium members which owned the 66% stake in Wellington International Airport thereby allowing Infratil to directly own the 66% stake.

In March 1999 Morrison & Co managed a NZD65m Bond Issue to finance the transaction. Key aspects of Morrison & Co’s role in the process were:

• preparation of Prospectus and Investment Statement;
• appointment of Trustee; and
• marketing and liaison with distribution brokers.

The Bond Issue was successful and achieved a favourable rate of interest for Infratil.