Sharechat Logo

Meridian Energy considering $200M retail bond offer

Tuesday 5th June 2018

Text too small?

Meridian Energy is considering offering up to $200 million of seven-year unsecured, unsubordinated fixed rate bonds to institutional and New Zealand retail investors. 

The bond offer would be for $150 million with the ability to accept up to $50 million in oversubscriptions and Meridian said it expects to announce full details of the offer next week when the offer is expected to open.  It didn't provide any details about what the funds would be used for and didn't immediately respond to a request for comment. 

Meridian has appointed ANZ Bank New Zealand and Westpac Banking Corporation (acting through its New Zealand branch) as joint lead managers and Deutsche Craigs and Forsyth Barr as Co-Managers in relation to the bond offer. 

Meridian had total borrowings of $1.16 billion as at Dec. 31 versus $1.19 billion a year earlier.

Meridian shares last traded at $3.06 and have lifted 5.5 percent so far this year. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares gain as defensive stocks find favour; Contact, Meridian rise
NZ dollar firm against greenback as risk appetite ticks up
Cleantech start-up Mint Innovation raises $5.2M to prepare for commercial deployment
BurgerFuel starts full strategic review of business
NorthWest hires lobbyist to solicit Vital Healthcare votes
Greater transparency sought in gas sector
Cap proposed for transmission pricing changes
Ryman Healthcare: service provider or property play?
Wrightson shareholder Agria settles US fraud, market manipulation claims
Cheaper petrol keeps lid on credit, debit card spending in November

IRG See IRG research reports