NTA expands debt facilities to fund future improvements at Darwin and Alice Springs airports

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Northern Territory Airports (NTA), the owner and operator of Darwin International and Alice Springs airports in Australia, announced today (June 17) that it has secured A$577m (US$426m) in new debt facilities to refinance maturing debt and to help fund future facility improvements.

NTA has placed A$150m (US$110) in the US institutional debt market with varying terms of 10 and 12 years. It has also introduced Canadian Imperial Bank of Commerce (CIBC) to the existing banking group, which currently consists of Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. Each bank has provided more than A$85m (US$63m) in facilities with tenures of three, five and seven years.

Tom Ganley, chief financial officer, NTA, said, “The strength of our financial and operational management has enabled NTA to achieve its strategy of diversifying and extending the average maturity profile of current funding sources. With the new debt facilities, we will be able to enhance the airport facilities to serve the nearly three million passengers who pass through the airports each year.”

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Helen has worked for UKi Media & Events for nearly a decade. She joined the company as assistant editor on Passenger Terminal World and since progressed to become editor of five publications, covering everything from aviation, logistics and e-commerce to meteorology. She has a love for travel and property and has redeveloped three houses in three years. When she’s not editing magazines, she’s running around after her two boys and their partner in crime, Pete the pug.

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