Northern Territory Airports refinance bank debt facilities

0

Airport Development Group (ADG), owner and operator of Northern Territory Airports, has successfully closed a full refinancing of its syndicated bank debt facilities, with new bilateral funding arrangements totalling A$550m (US$375m).

The financing will provide certainty of funding for ADG’s capital expenditure plans and the future growth of its airports (Darwin International, Alice Springs and Tennant Creek Airports). Oversubscription for the refinancing enabled ADG to attract new lenders and establish new banking relationships. Lenders from Australia, Asia, Europe and North America bring significantly increased depth, and banking expertise across various global capital markets.

ADG has closed the refinancing with improved pricing and terms, with five- and seven-year facilities, extending its average maturity profile, alongside its existing A$150m US institutional note. The proceeds will be used to refinance existing maturing debt and fund capital expenditure and growth for ADG.

Chief financial officer Tom Ganley said, “With the new debt facilities and new banking relationships, we will be able to enhance the airport facilities to serve the nearly three million passengers who pass through the airports each year, while further diversifying our revenue base through developments at each of our airport sites.”

Share.

About Author

mm

Tara has worked for UKi Media & Events since 2013, initially as a freelancer. She has been a journalist for over a decade and has worked for a range of publications, including Personnel Today, Management Today and The Grocer.

Comments are closed.