Melbourne Airport today announced that it had completed $900 million of new bank facilities, which follow on from the $350 million of domestic notes placed last week with a range of domestic and international institutions.
The new funding will refinance debt maturing in the first half of the 2011 calendar year.
The new bank facilities include a $300 million two-year facility and a $600 million four-year facility.
The refinancing is being provided by ANZ, Commonwealth Bank, NAB and Westpac, all of whom have been long term supporters of Melbourne Airport, and by new lenders Bank of Nova Scotia Asia Limited, Bank of Tokyo-Mitsubishi UFJ, Ltd and Crédit Industriel et Commercial.
Melbourne Airport Chief Financial Officer Kirby Clark said that the refinancing was recognition of the financial community's confidence in Melbourne Airport's operations despite challenging global economic conditions.
"Melbourne Airport is a secure business that produces consistent, measured growth and strong returns - evidenced by the confidence in our operations shown by the debt investors and banks," said Mr Clark.
Mr Clark said the changes allow the airport to restructure its existing debt and provide a facility to fund capital expenditure for the next phase of Melbourne Airport's development.
"As the major gateway to Victoria, Melbourne Airport is in a unique position to help drive the state's growth," he said.
"The refinancing will increase capacity and investment in infrastructure to drive economic growth, underpin tourism and connect millions of people around Australia and across the globe, with benefits to flow to the Victorian community."
Melbourne Airport continues to be rated A- by Standard & Poor's and A3 by Moody's.
-ends-
For further information, please contact: Melbourne Airport Media - (03) 9335 3666