Auckland International Airport Releases Final Terms Sheet for NZ$350 Million Fixed Rate Retail Bond Offer Due 2031

Shwetambri Chauhan

06 November 2026 11:23 AM AEDT

Auckland International Airport Releases Final Terms Sheet for NZ$350 Million Fixed Rate Retail Bond Offer Due 2031

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Auckland International Airport Limited (ASX:AIA) has released the final terms sheet for an offer of NZ$350,000,000 of unsecured, unsubordinated fixed rate retail bonds due 17 November 2031, with an interest rate of 4.74 per cent per annum and an issue price of NZ$1.00 per bond.

Key Points

Auckland Airport is issuing NZ$350,000,000 of fixed rate retail bonds maturing on 17 November 2031, to be quoted on the NZX Debt Market under ticker code AIA300.
The interest rate is 4.74 per cent per annum, comprising a base rate of 3.99 per cent per annum and a margin of 0.75 per cent per annum.
The issue date and allotment date is 17 November 2026, with the first interest payment date of 17 May 2027, paid semi-annually.
S&P Global Ratings has assigned an expected long-term issue credit rating of A- to the retail bonds, consistent with Auckland Airport's long-term issuer credit rating of A- (stable).
The minimum principal amount and minimum holding amount is NZ$10,000, with multiples of NZ$1,000 thereafter.

Retail Bond Offer Structure and Terms

The retail bonds are described in the filing as direct, unsecured, unsubordinated, fixed rate debt obligations of Auckland Airport, ranking equally and without preference among themselves and equally with all other outstanding unsecured and unsubordinated indebtedness of the company, except indebtedness preferred by law. The bonds are issued under a master trust deed dated 9 July 2004, as modified and supplemented by a supplemental trust deed dated 29 October 2026, entered into between Auckland International Airport Limited and The New Zealand Guardian Trust Company Limited as supervisor. The stated purpose of the offer is general corporate purposes.

Offer Timetable and Quotation Details

According to the filing, the offer opened on Wednesday, 4 November 2026, with a closing date of 10.30am on Friday, 6 November 2026. The rate set date was 6 November 2026. The issue and allotment date is Tuesday, 17 November 2026. The bonds are expected to begin quotation and trading on the NZX Debt Market on Wednesday, 18 November 2026, under ticker code AIA300. Interest payments will be made semi-annually on 17 November and 17 May in each year until and including the maturity date, with the first interest payment due on 17 May 2027. MUFG Pension & Market Services (NZ) Limited has been appointed as registrar, and the ISIN is NZAIAD0300L1.

Joint Lead Managers and Investor Eligibility

The filing names ANZ Bank New Zealand Limited, Bank of New Zealand, and Forsyth Barr Capital Markets Limited as joint lead managers for the retail offer. All retail bonds are reserved for clients of the joint lead managers, NZX participants, other approved financial intermediaries, and institutional investors. The filing states there is no public pool for the offer. Auckland Airport also disclosed its intention to apply to the Reserve Bank of New Zealand for the retail bonds to be included as eligible securities for domestic market operations. Governing law for the bonds is New Zealand.

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