Auckland International Airport Limited (AIA)

[Zaphod]

Second runway to be funded by a rights issue with Auckland Council contribution to the capital raise from the government?

Will it be required it any time in the near-term? I think we're more likely to see roads and rail prioritised, especially if re-election is a goal.

[Baddarcy]

Is Auckland Council already at the top of it's debt limits?

Auckland Councils debt is just under $9b about 2.5x revenue.

[kiwico]

My District Council was so keen to join LGFA (Local Government Funding Agency) they blissfully agreed to joint and several liability for other councils debt. I expect if Auckland's bonds go base over apex it will show up in my rates bill.

Has anyone pointed out to them how stupid such an agreement for others liability is? I guess we should be lucky you're in Hollywood.

Perhaps you can approach your local council for a personal guarantee on any loan you hold....

[macduffy]

Yes, very dangerous objects, guarantees. No guarantor ever expects to be called on to perform!

[Bjauck]

Will it be required it any time in the near-term? I think we're more likely to see roads and rail prioritised, especially if re-election is a goal.

Second runway would be a white elephant. It should be postponed perhaps for quite a few years. International travel will likely have a long way to go before we get to last year's levels.

Likewise roads. Hopefully many businesses and universities will keep up with the moves to working and studying from home, thereby reducing the need to increase roading capacity for peak times.

[winner69]

Quick off mark .... $1.2 billion cap raise

Most going to insto’s as a placement ....mum and dads get a little bite of the cherry with a SPP but first impression a fair bit of dilution for them.

http://nzx-prod-s7fsd7f98s.s3-websit...293/320374.pdf

[macduffy]

Quick off mark .... $1.2 billion cap raise

Most going to insto’s as a placement ....mum and dads get a little bite of the cherry with a SPP but first impression a fair bit of dilution for them.

http://nzx-prod-s7fsd7f98s.s3-websit...293/320374.pdf

Yes, dilution of small shareholders, but that's seems to be the way that such things are done these days.

Disc: Holding - and expect to have a nibble at the SPP.

[blackcap]

Yes, dilution of small shareholders, but that's seems to be the way that such things are done these days.

Disc: Holding - and expect to have a nibble at the SPP.

I wonder where all this money is going to come from? Are the smart companies getting in early so that they can get the cash they need to remain solvent?

[BlackPeter]

Quick off mark .... $1.2 billion cap raise

Most going to insto’s as a placement ....mum and dads get a little bite of the cherry with a SPP but first impression a fair bit of dilution for them.

http://nzx-prod-s7fsd7f98s.s3-websit...293/320374.pdf

$4.50 floor price for the CR. That would be only 45% of the 12 month high of $9.90 - i.e. 55% down.

Just wondering whether this is setting a baseline for this bear market (for pristine key infrastructure companies, this is) - or is this still one of the cases of "first up, best dressed"?

[blackcap]

$4.50 floor price for the CR. That would be only 45% of the 12 month high of $9.90 - i.e. 55% down.

Just wondering whether this is setting a baseline for this bear market (for pristine key infrastructure companies, this is) - or is this still one of the cases of "first up, best dressed"?

Yeah interesting isn't it. I tend to think its a case of "first up, best dressed". Surely the money will run out at some stage or am I reading this all wrong. If I were a board looking at getting more liquidity on our books, I would rather go now than later.