Schiphol borrows €500 million to improve quality of airport

Schiphol is investing in the quality of the airport more than ever before. To finance the necessary investments, the airport is borrowing extra funds. Last week, Schiphol issued €500 million in bonds. The bond issue contributes to Schiphol’s financial robustness and to improving quality for travellers, airlines and employees.

Our investments will restore Schiphol to its position among the top three airports in Europe in terms of quality. Solid and stable finances are essential. The reality is that we’ll be consistently spending more money than we earn over the coming years. That’s why we are borrowing additional funds and continuously seeking the right balance between our operating costs, charges and investments. While we’re working hard to make progress, Schiphol must remain affordable for airlines and travellers. We are pleased that the successful bond issue contributes to this and underlines investors’ confidence in Schiphol.

CFO Robert Carsouw

The bonds fall under the Euro Medium Term Note (EMTN) programme and have a maturity of almost ten years with an interest coupon of 3.625%. Schiphol placed the bonds with a wide range of institutional investors. The final order book amounted to €3.2 billion. The bonds are listed on Euronext Amsterdam. Deutsche Bank, ING, NatWest Markets and SMBC acted as joint bookrunners for the transaction.

The bond issue contributes to financial stability and is an important milestone in enabling the implementation of the investment programme. Schiphol is investing ten billion euros until 2035 to improve quality for travellers, airlines and employees. The issue of these bonds also contributes to the refinancing of existing loans.