New Zealand Post to sell up to $150m notes

Tuesday 3rd February 2009

New Zealand Post, the state-owned postal service and owner of Kiwibank, plans to sell as much as NZ$200 million of subordinated notes to repay existing debt.

NZ Post, which has an AA- credit rating, will sell N$150 million of the notes with potential to accept up to $50 million of oversubscriptions. The offer is expected to open in mid-March and close the following month.

By Jonathan Underhill

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