Vol. 545 No. 4
136 Mr. Stanton asked the Minister for Public Enterprise if, further to Parliamentary Question No. 34 of 27 November, the size of the eurobond mentioned in her reply; the rates of interest involved; the mechanism and timescale involved in the repayment; and if she will make a statement on the matter. [30671/01]
My reply to supplementary questions from the Deputy on Tuesday 27 November, in relation to Parliamentary Question No. 34, may have given the impression that the eurobond in question was issued by me. In order to avoid any potential confusion I wish to point out that Aer Rianta, through its wholly owned subsidiary, Aer Rianta Finance plc, issued a 250 million or £197 million eurobond in February. This loan facility required my approval, which I duly gave, with the consent of the Minister for Finance. The bond has a maturity of ten years and a coupon interest rate of 6.15%. Interest is paid annually and the bond is not due for repayment until 2011.
The Deputy may also wish to note that in April, again with my approval given with the consent of the Minister for Finance, Aer Rianta signed an 18 year facility for 125 million or £98.5 million with the European Investment Bank. This EIB facility will be used to part fund Aer Rianta's major development programme at Cork Airport.
The foregoing clarifies the position fully for the Deputy.
