Sharechat Logo

Transpower launches $200 million bond offer

Friday 18th November 2011

Text too small?

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.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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.

Related News:

Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report