Auckland International Airport Ltd is selling notes at $US150 million ($NZ193 million) in the United States private placement market for the purpose of refinancing the bank debt that will mature next year.

According to the operator of Auckland's airport, an investor roadshow was being conducted for raising funds in the private placement market.

Reportedly, it has priced three tranches, each of $US50 million, of notes.

A 10 year note and a 12 year note have 4.42 percent coupon and 4.57 percent coupon respectively.

The whole transaction has been exchanged to New Zealand currency giving a long term financing at the New Zealand three-month bank bill rate added with 2.145 per cent, 2.078 per cent and 2.268 per cent respectively.

The transaction paves way for a new source for financing and increases the maturity time of the company's debt.

The funds that will be raised will be utilised for paying fund bank debt that will mature in March 2011 and also the fixed and floating rate notes that will mature in July 2011.

The private placement market makes way for the selling of securities to few private investors without any documentation linked with public offers.