News
Air New Zealand establishing new credit lines, cancels government standby loan facility
March 26th 2024
Air New Zealand (Air NZ) has appointed ANZ Bank New Zealand Limited and MUFG Bank as mandated lead runners and book runners “in connection with the arrangement and syndication of a new unsecured revolving standby facility”, planned to close by June 30, 2024. Read More » The facility is being established, the company said in a regulatory filing, because the airline had cancelled a NZ$400 million (US$240 million) standby facility entered into with the New Zealand government, or Crown, in March 2022. Air NZ did not draw on the government standby facility. “The cancellation of the facility concludes the period of pandemic related financial support provided by the Crown to Air New Zealand,” Air NZ said. The New Zealand government owns 51% of the flag carrier.
