Westralia Airports corporation completes major financing
01-Oct-2009 Westralia Airports Corporation, the owner and operator of Perth Airport, announces that it has achieved an important milestone in its expansion of Perth Airport with the completion of a major new financing process.
As part of the financing, the company has agreed new debt facilities totalling $740 million. In addition, the company's shareholders have also committed further funding totalling $142 million. The new financing will be used to refinance existing bank debt facilities and to fund the airport's substantial capital expenditure programme. The new debt facilities are being provided by a total of eight banks from Australia, Europe and Asia.
"Completion of the financing provides our company the funding certainty we need to proceed with our major investments to increase capacity and customer service levels at Perth Airport," said Perth Airport's CEO Brad Geatches. "These funds will underpin our investment in a new domestic terminal, "Terminal WA", and expansion of our existing international terminal, as well as many other projects that will further improve customer service at Perth Airport," Mr Geatches said.
"The fact that this major financing has been successfully completed during a period of unprecedented dislocation in global financial markets reflects the confidence shareholders and lenders have in our business performance and plans" said Mr Geatches.