Spark issues 10-year bond, paying 3.94%

Spark New Zealand is to raise $125 million in 10-year bonds, paying investors an interest rate of 3.94 percent. 

The Auckland-based telecommunications company is paying 1.55 percent above the ten-year swap rate, the latest in a string of companies looking to refinance debt at a time when interest rates in New Zealand are at a record low.

The bonds will be issued on Sept. 7 2016 and mature on Sept. 7 2026.

ANZ and Westpac were joint lead managers.

Shares in Spark were unchanged at $3.81 and have risen by 16.1 percent since the start of the year.

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.

Related News:

CDC investor presentation and guidance update
PFI - Potential Bond Offer by PFI
MCY - Mercury Green Bond offer - interest rate set
March 25th Morning Report
AFT - Chief Financial Officer update
KMD Brands: Response to Stokehouse transaction concept
March 24th Morning Report
MCY - Mercury launches retail Green Bond offer
Fonterra delivers another strong result for HY26
March 23th Morning Report