Powered by MOMENTUM MEDIA
australian aviation logo

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.

Each day, our subscribers are more informed with the right information.

SIGN UP to the Australian Aviation magazine for high-quality news and features for just $99.95 per year

You don't have credit card details available. You will be redirected to update payment method page. Click OK to continue.