Capital Markets Group

NZD185m Refinance of Wellington International Airport

In the second half of 1999, Morrison & Co advised the Airport on its capital structure and was subsequently mandated to manage the refinance existing debt facilities.

To achieve an optimal debt structure, Morrison & Co managed a NZD55m Perpetual Bond Issue and negotiated a NZD130m Bank Facility. Key aspects of Morrison & Co’s role in the process were:

• preparation of bond documents and negotiation with investors;
• negotiation of bank facility with selected banks; and
• management and coordination of all parties and facility documentation.