Sharechat Logo

Transpower plans to sell as much as $200M of five-year bonds to bolster finances

Friday 15th November 2013

Text too small?

Transpower, the state-owned national electricity grid operator, plans to sell as much as $200 million of five-year bonds to bolster its finances.

The Wellington-based state-owned enterprise will offer $100 million, with the potential for a further $100 million in oversubscriptions, of unsecured unsubordinated bonds with a 5.14 percent annual interest rate, it said in a statement.

"Proceeds from the issue of bonds are intended to be applied for general corporate purposes, including the capital expenditure requirements of the Transpower group," the company said.

The issue price per bond will be determined on Nov. 27, following a bookbuild process. The bonds are expected to be listed on the NZX debt market with a credit rating of AA- by Standard & Poor's and A1 by Moody's Investors Service, Transpower said.

 

BusinessDesk.co.nz

Father's Day SOON! Crazy Deals on ALL IRG Yearbooks - More than 50% OFF - $19.99 for 44th IRG Yearbook 2018-2019


  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:

NZ dollar rises after Orr talks up the economy
Comvita posts $27.7m net loss on goodwill write-downs
Buyers emerge for Denton Morrell client book
WEL reviewing capital structure of fibre business
Cavalier announces strategic collaboration with NZ Merino Company
Delegat continues to invest after record year
Kiwibank's annual profit eases as fee income drops
TIL lifts operating earnings, watching for slowdown
Vector profit slides 44% on struggling HRV writedown
Steel & Tube returns to the black but says margins are squeezed

IRG See IRG research reports