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BAC raises $600 million to help pay off $1.7B debt

written by australianaviation.com.au | March 25, 2011

Brisbane Airport Corporation  (BAC) has announced that it has raised $600 million which it will use to pay back maturing bank facilities and fund capital expenditure and working capital over the next 18 months.

BAC raised a total of A$400 million in the US Private Placement market, with the remaining $200 million found on the Australian market, with eight-year BBB/Baa2 bonds.

The airport corporation currently has borrowings totalling $1.7 billion, and is hopeful to eventually raise further funds in both markets in coming years to repay maturing credit wrapped bonds and fund future infrastructure investment.

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