News

MAG secures £350m bond to support airport investment

Manchester Airports Group has raised £350 million to help fund investment into its airports.

Some of the funding through issuing a 25-year bond in the UK capital markets will go for general corporate purposes.

MAG is spending £1 billion transforming Manchester airport with a new pier and multi-storey car park, as part of an expanded Terminal 2.

The next phase of work at Stansted involves the completion eight new aircraft stands, new check-in desks, a multi-storey car park and upgrading the hold baggage screening system.

MAG chief financial officer Neil Thompson said: “The success of the bond is a testament to the strong financial performance of the group over several years.

“The bond was supported by almost all the key blue-chip UK institutional investors and demonstrates the confidence those investors have in the future growth strategy for MAG and its track record.

“Our significant investment at Manchester and London Stansted airports, which is already well underway, is already improving the experience for passengers and airlines using our airports.

“Looking ahead, the investment we are delivering will be transformative and allow our airports to further unlock their significant future growth potential.”

Share article

View Comments

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.