Council backs $75m underwrite for Wellington airport

Fri, 24 Apr 2020

Wellington City Council has agreed to underwrite a $75 million loan facility as part of refinancing efforts by the city’s airport.The details of the underwrite, to be provided with fellow airport shareholder Infratil, were still to be worked out between the airport and Infratil, the council said in a statement.“The support would be through an underwrite of a convertible equity-type arrangement that would ensure that funding was able to be quickly accessed by the airport if needed,” the council said.The arrangement “provi...

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