PGG Wrightson Finance confirmed on Friday its intention to extend the NZ$100 million bonds, due to mature in October, for a further 12 months to October 8, 2012. The crown guarantee attached to the bonds will be similarly extended and the coupon will remain unchanged at 8.25 per cent.The bonds were issued in December 2008 with the option of a 12-month extension. However as the Crown guarantee will be extended on different terms, extension of the bonds requires the approval of bondholders. A meeting of bondholders is scheduled for July 28, in Christchurch.Investors holding more than NZ$250,000 of bonds and overseas bondholders will be able to sell back their bonds on the original maturity date of 8 October 2010, as the Crown guarantee will not be extended for these investors. The bonds will be held by the company as treasury stock.A short-form prospectus that deals with the proposed extension has been lodged with the NZDX.In other news, Auckland International Airport announced it had acquired a 25 per cent interest in Queenstown Airport, with an option to increase this interest to 30 per cent-35 per cent within the next year. S&P affirmed the 'A-/Stable/A-2' long- and short-term ratings assigned to AIA but warned AIA's increasing exposure to the leisure market and the inherent cyclicality of that market could place negative pressure on the credit ratings in the longer term.