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Z Energy mulls new retail bond offer

Monday 25th June 2012

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Locally owned downstream transport fuels supplier Z Energy is considering another retail bond offer after the success of previous offerings.

No size or term is being given for the possible offer, which is likely to be timed for mid-July, said chief executive Mike Bennetts in a statement.

"Any issue would likely be of senior, secured fixed rate bonds, with bondholders sharing the same security as Z's banks and existing bondholders, on an equal ranking basis."

Z currently has a total of $297 million of retail bond debt and made its most recent issue in July last year, paying 7.25 percent on a seven year bond.

Registrations of interest being sought through the issue's arrange, ANZ Bank, prior to the issue of a simplified prospectus.

BusinessDesk.co.nz



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