Infratil prepares to sell more 'infrastructure' bonds

Infratil is preparing to sell more 'infrastructure' bonds to repay existing debt and lengthen its maturity profile.

The Wellington-based group, whose investments range from a controlling stake in TrustPower, to the Shell service stations, Wellington International Airport and the main bus service in Auckland and Wellington, didn’t say how much worth of the debt it will sell.

The terms are likely to be similar to its existing series of the debt, it said in a statement.

Infratil has $112 million of May 2011 ‘infrastructure’ bonds that pay a coupon of 8.25% among its debt that trades on the NZDX market.

Holders of the May 2011 bonds will be offered the chance to exchange the debt for the new series, it said.

Infratil’s shares were unchanged at $1.86 and have gained 17% this year.

Businesswire.co.nz

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