Schiphol Raises €500 Million to Fund Airport Upgrades

Amsterdam Airport Schiphol has raised €500 million through a bond issue as part of its efforts to finance major investments aimed at improving the airport’s overall quality and infrastructure.

 

The bonds were issued under Schiphol’s Euro Medium Term Note (EMTN) programme and have a maturity of nearly ten years with an interest coupon of 3.625%. The offering attracted strong investor interest, with the final order book reaching €3.2 billion. The bonds are listed on Euronext Amsterdam.

According to Schiphol, the financing will help support its long-term investment program designed to enhance the airport experience for passengers, airlines and employees. The airport operator plans to invest around €10 billion by 2035 to improve facilities and operations.

Schiphol’s Chief Financial Officer Robert Carsouw said the funding will help maintain financial stability while the airport continues to invest heavily in upgrades.

The airport expects spending to exceed earnings in the coming years as it works to improve operations and service quality. As a result, borrowing additional funds is part of the strategy to maintain a balance between operating costs, airport charges and infrastructure investments.

Schiphol aims to restore its position among the top three airports in Europe in terms of quality through the planned upgrades.

The bond issuance will also contribute to refinancing some of the airport’s existing loans. Deutsche Bank, ING, NatWest Markets and SMBC acted as joint bookrunners for the transaction.