Friday 11th November 2011
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New Zealand Post Group, the state-owned postal service, sold $150 million of bonds under its medium-term note programme to repay maturing debt and for general purposes.
The bonds pay annual interest of 5.225% and are rated AA- by Standard & Poor's, matching the company’s debt rating.
Bank of New Zealand managed the sale and NZ Post’s Kiwibank unit was co-manager.
Most of the funds will be used to repay NZ Post’s $100 million of Nov. 15, 2011, bonds.
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