Support our sponsors:

NZX 50 Index	4611.96	2.40
S&P/ASX 200	5191.20	0.00
Dow Jones Industrials	14839.80	21.00

Twitter

Facebook

RSS

TrustPower mulls $100m retail bond offer

Tuesday 7th September 2010

Text too small?

TrustPower, the Infratil-controlled electricity generator, is mulling a retail bond offer to help repay bank debt and push out its maturity profile.

The power company says it intends to raise $75 million through a seven-year bond issue, with the ability to accept up to $25 million in over-subscriptions. The money will be used to pay down bank borrowings, and extend the maturity deadline of its total debt facilities.

The fixed interest rate will be determined after a bookbuild process, and the senior bonds will be unsecured, unsubordinated debt obligations, ranking pari passu with existing bank debt and senior bonds.

The offer will open in the week beginning September 20 once a simplified disclosure prospectus has been registered.

The lead managers are ANZ National Bank and Forsyth Barr.

The shares were unchanged at $7.28 in trading today, and have edged down 0.4% this year.

Businesswire.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.