Transforming Dublin Airport

DAA Raises €600m for Transforming Investment

The DAA has raised €600 million to help fund the €2 billion Transforming Dublin Airport investment programme.

The funds were raised by issuing a 10-year bond, which is will be listed on the Irish Stock Exchange. Investors from Ireland and 10 other European countries have backed the latest bond issue.

DAA Finance Director Ray Gray said that the company's ability to raise significant long-term financing at attractive rates in volatile market conditions reflected the DAA's “strong balance sheet and excellent credit profile” and also highlighted the broad investor support for the company across Europe.

The extra funds will be used to pay for projects within the Transforming Dublin Airport programme, such as T2, a major investment in new aircraft parking stands and taxi-ways, and the upgrade of the airport’s campus road network.

July 3, 2008