Friday 25th October 2013 |
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Wellington International Airport Limited’s (WIAL) offer of unsecured retail bonds opened for public subscriptions on 24 October 2013.
The offer has been extremely successful and applications received on the opening day exceed the $50 million offer level. Therefore, WIAL has decided to accept oversubscriptions of up to an additional $25 million.
In relation to accepting oversubscriptions, WIAL wishes to exercise its discretion to refuse applications from new investors from today, so it can recognise the long term commitment of its existing bondholders.
Applications from holders of WIAL’s existing retail bonds maturing on 15 November 2013 will continue to be accepted until the oversubscription amount is reached. As set out in the simplified disclosure prospectus for the bonds, the balance of any application money (without interest) that is not accepted will be refunded as soon as reasonably practicable.
WIAL’s Chief Financial Officer, Martin Harrington said that the success of the bond offer is a very positive outcome for WIAL and its investors.
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