Transpower launches $200 million bond offer

Transpower New Zealand, owner and operator of the national power grid, is making an offer of up to $200 million of unsecured, unsubordinated bonds.

The announcement comes after Transpower chairman Mark Verbiest said yesterday the state-owned enterprise must raise $3 billion of debt over the next five years, some of which would have to come from the domestic market.

The bonds are being offered with terms to maturity of four years (floating rate notes) and seven years (fixed rate notes), at the company’s discretion.

It expects bonds will be assigned a credit rating of AA- by Standard & Poor’s and A1 by Moody’s.

Announcements on interest rates and issue margins are expected on Nov. 25.

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:

Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER