MightyRiverPower lengthens debt book with US placement

State-owned electricity supplier MightyRiverPower has lengthened the average maturity of its debt book to 7.5 years from 4.9 years following a US$200 million private placement with American institutional investors.  

A combination of 10-, 12- and 15-year notes has been issued, with settlement of the transaction expected to be in December 2010.

The proceeds of the debt-raising, arranged by the National Australia Bank/Bank of New Zealand, will be used to refinance existing short-term bank debt and allows MRP to tap longer-term funding options than are currently available in New Zealand, the company’s chief executive, Doug Heffernan says.

Businesswire.co.nz

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

May 19th Morning Report
PYS - PaySauce to announce F26 full year results on 27 May 2026
PEB - Draft LCD Proposes Medicare Coverage for Triage and Triage
MEL - Meridian Energy monthly operating report for April 2026
FBU - Sale of South Australian property
AIR - Air New Zealand market update
May 14th Morning Report
PEB - Pacific Edge Placement Increased to NZ$25.4 Million
Radius Care Reports Earnings Growth and 50% Higher Dividend
May 13th Morning Report