August 30, 2017 / 11:49 AM / 23 days ago

Geneva airport issues 175 mln franc 10-year bond

GENEVA, Aug 30 (Reuters) - Switzerland’s Geneva airport issued a 10 year bond to raise 175 million Swiss francs ($182.7 million), the first capital markets financing in its history, it said in a statement on Wednesday.

The launch of the bond, which has a coupon of 0.400 percent, was jointly led by Credit Suisse, Zuercher Kantonalbank and Banque Cantonale de Genève.

It will enable the airport’s debt to be extended on favourable fixed rate terms, helping to fund an expansion of departure lounges for long-haul flights, with passenger numbers expected to rise to 25 million by 2030, from 17 million now.

$1 = 0.9577 Swiss francs Reporting by Tom Miles, Editing by Louise Heavens

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