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Sydney Airport Said to Delay Exchange Offer for 2011, 2012 Bonds

June 7 (Bloomberg) -- Sydney Airport Corp. delayed a potential exchange offer for its bonds due in November 2011 and October 2012 due to market conditions, according to a person familiar with the plan.

The airport may still proceed with the offer if conditions improve, the person said, asking not to be named as the plans are private.

Sydney Airport is considering buying back the 2011 and 2012 notes, which total A$680 million, and issuing new debt, it said in an April 30 statement. The airport will only proceed “if it is able to achieve attractive and competitive commercial terms,” it said in the statement.

Link to Company News:{1349Z AU <Equity> CN <GO>}

To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net

To contact the editor responsible for this story: Edward Johnson at ejohnson28@bloomberg.net

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