Melbourne Airport refinances 16 August 2010 4:36PM Ian Rogers Australia Pacific Airports Melbourne last week sold $350 million of bonds in four-year and three-year tranches. It priced $100 million of four-year debt at 160 basis points more than the swap rate and $250 million of six-year debt at 190 basis points more than swap.Melbourne Airport has a rating of A- from S&P.The proceeds will help the airport operator refinance $250 million of 10-year bonds maturing in June 2011 that were sold with a guarantee from MBIA Insurance Corp.The only other issuer in the corporate bond market last week was VW Australia, the financing arm of the European car maker, which sold $125 million in three-year debt at 165 basis points over swap. VW also holds a rating of A- from S&P.