Friday 20th December 2013
|Text too small?|
Contact Energy, the second biggest listed power company on the New Zealand stockmarket, is looking at issuing a $225 million retail bond to help refinance $534 million of maturities coming next May.
The Wellington-based company is considering an exchange offer to existing holdings of the 2009 bonds which mature on May 14, 2014, as well as a general offer to existing and new investors, it said in a statement. The company raised US$240 million in a wholesale bond issue to US investors in June to help refinance the 2014 retail bond, which hadn't been drawn on, at its balance date of June 30.
Forsyth Barr has been appointed arranger of the offer, which is expected to open in late February.
In October, Contact embarked on a buyback programme for its 2015 bond, using existing cash and banking facilities to do so.
Contact shares slipped 0.2 percent to $4.93 today, and have slipped 5 percent this year.
No comments yet
NZ dollar rises as US-China trade, Brexit tensions ease
SkyCity shares hit 7-week low as fire encapsulates convention centre
Wrightson showcases Fruitfed Supplies as horticulture stands out
Fonterra rivals fear dairy giant will get leg up from law overhaul
Wellington Drive remains in the black as it raises operating forecast
OMV plans further maintenance at Pohokura
Sky continues sports drive with extension to netball rights
Apple's asset-shuffling puts $270m value on PowerbyProxi
Fonterra lifts payout forecast on improving global dairy prices
22nd October 2019 Morning Report