Company News Summary
Australian Infrastructure Fund Provides Perth Airport Update
Original announcement: Perth Airport Update
Australian Infrastructure Fund reported that Perth Airport has announced it has successfully issued US$270m and A$30m of senior secured notes in a private placement issue to US investors. As a consequence, the $300m 'back stop' debt facility negotiated in November 2011 will not be required. The proceeds of the private placement will be used as part of Perth Airport's $750m airport expansion plans. The company also reported that it has recorded an increase of 10.3% in passenger numbers for the year ended 30 June 2012, and has concluded comprehensive 'Prices and Services Agreements' from airlines representing 97% of passenger movements at Perth Airport. These agreements will conclude by July 2018.
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