Street Talk

Melbourne Airport shops junior debt to fund capex

Sarah Thompson, Kanika Sood and Emma Rapaport

Jun 4, 2025 – 8.08pm

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Melbourne Airport isn’t letting a bitter legal battle among its shareholders distract it from plans to expand its international terminal and build a third runway.

The company, which operates Australia’s second-busiest airport, on Wednesday announced a so-called benchmark-sized subordinated note. That’s a vague term that industry insiders take to mean a $500 million-plus raising.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.