Macquarie Bank Limited

News Release

Embargoed to Tuesday October 31, 2000

Macquarie Bank today announced it had acquired the business of UK-based The Portland Group, leading international specialists in the airport and air transport industry.

The acquisition of the boutique advisory business, for an undisclosed sum, builds on Macquarie's project specialisation in airports in Australia and positions the Bank to capitalise on the worldwide trend towards increasing private sector participation and investment in the sector.

The Portland Group, established in 1994, is a leading international management consultancy, focused exclusively on the airport and air transport industry. The Group has worked on airport privatisations, commercialisations and airport industry and business issues in over 40 countries. Portland has advised governments, airport operators and investors and provides commercial management, public policy and strategic consultancy services.

The Portland Group has worked on all forms of airport privatisation, including IPO, BOT, trade sale, concessions and management buyouts.

The business comprising eight airport specialists, will be incorporated into Macquarie's Project and Structured Finance Division (PSF). The specialists will be based in London and will play a leading role in the development of the Bank's global capabilities in the industry.

Macquarie Bank has recently completed, or is currently engaged in, a number of significant transactions in the Australian airport industry, including:

• Financial advisor to Sydney Airports Corporation Ltd for its $2.05 million Borrowing Program, including bank debt and short and long term capital markets issues (1999);

• Financial advisor to Brisbane Airport Corporation Ltd for both its $51 million equity raising (1999) and $860 million debt refinancing, using bank debt and a capital markets issue (2000);

• Financial advisor to Adelaide Airport Ltd for financing of a $220 million New Terminal and refinancing of $230 million in acquisition debt (to be completed late 2000); and

• Founding sponsor and financial advisor to a consortium including Serco and Manchester Airport for the privatisation of Adelaide and Coolangatta airports in Phase 2 of the Commonwealth Government's Airports Privatisation process.

"The addition of specific industry skills with the purchase of the Portland Group is a natural evolution to Macquarie's approach to the infrastructure sector" said Nicholas Moore, Group Head of Macquarie's Asset and Infrastructure Group.

"Increasingly, we are operating in very specialised industries and clients deserve an in-depth understanding of the key commercial and financial aspects of their businesses. With the combination of Macquarie's and the Portland team's expertise, Macquarie will be able to offer clients, whether they be airport operators, investors, or governments, both commercial and financial advice, unmatched by any our rivals", he said.

For further information, please contact:

Nicholas Moore, Head Asset and Infrastructure Group,	(612) 8232 3948
Matthew Russell    Public Relations, Macquarie Bank	(612) 8232 4102 0410 699 532

© Copyright 1996-2019 irasia.com Ltd. All rights reserved.

DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any information provided on this website. Under no circumstances shall irasia.com Ltd be liable for damages resulting from the use of the information provided on this website. TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website.