Brisbane Airport A$350 million bonds oversubscribed

Brisbane Airport is raising A$350 million via a 10-year bond issue to refinance some of its existing bank facilities.

Brisbane Airport Corp's BAC A$350 million $211 million 10-year bond issue was priced today. The A$150 million fixed rate notes were set at 99.58 to yield 7.36% on a semi-annual basis and the A$200 million floating rate notes were priced at par, giving a coupon of 52 basis points over the 90-day BBSW bank bills swap rate. The bonds, which are guaranteed by MBIA Insurance Corp, are rated triple-A by both Moody's and Standard Poor's.

The deal...

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