Australian corporates confirm a brace of call date redemptions

Sydney Airport Finance Company (Sydney Airport) (Baa2) has announced plans to redeem the A$650 million (US$694.1 million) issue of Sydney Kingsford Smith Interest Earnings Securities (SKIES), its subordinated retail instrument, at the first redemption date in January 2012. The issuer says the redemption will be funded from the proceeds of A$1.1 billion in bank and bond financing which has been raised throughout the previous three months.