Auckland Council considers retail bond offer

Auckland Council, New Zealand's biggest local body after its amalgamation of eight of the region's councils into one in November 2010, is seeking public feedback as it mulls an offer of fixed-rate secured bonds.

The bonds would form part of the council's overall borrowing programme to fund its investment in the region, it said in a statement. The money will be used to improved public transport, sports fields, new libraries and community facilities.

The supercity has appointed Australia & New Zealand Banking Group and Bank of New Zealand as joint lead managers and full details of the bond issue will be released on Oct. 8.

The council's commercial interests include Ports of Auckland, Auckland Film Studios and a 22.4 percent shareholding in Auckland International Airport.

BusinessDesk.co.nz

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Printable version

Related News

SkyCity
NZ dollar faces more downside as improving US economy spurs greenback supporters
NZ Sugar Company boosts profits on higher exports and lower costs from Chelsea factory
Greymouth Petroleum shucks off disaffected shareholder
Lance Wiggs's Punakaiki Fund mulls $50 million IPO to invest in high-growth companies
Ecoya ekes out small annual profit, EBITDA up 26%
Snakk raises $6.5M in over-subscribed issue
NZ trade surplus misses expectations
SFO charges seven people over mortgage fraud
While you were sleeping Cautious calm returns