Thursday 9th August 2012
TrustPower, the utility controlled by Infratil, has set a 6.75 percent interest rate on its seven- year bonds, which it is issuing to help repay maturing bonds and for working capital.
In May, the electricity generator and retailer flagged its intention to repay maturing bonds by offering investors the opportunity to roll over the debt in combination with a retail offer.
TrustPower today opened its unsecured, subordinate, Sept. 15, 2019 bond offer of $75 million of the debt and a $75 million exchange offer for holders of its Sept. 14, 2012, bonds.
The general offer will remain open to Sept. 11 and the exchange offer till Aug. 29.
The 2012 bonds pay annual interest of 8.5 percent, and traded yesterday at a yield of 5.4 percent on the NZDX.
The stock last traded at $7.73 and has gained 9 percent so far this year.
No comments yet
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.
TrustPower pays $13.7 million for Energy Direct NZ to widen customer baseTrustPower FY earnings fall 6 percent on dwindling customers, thinner margins; shares gainTrustPower looks to raise $125M in bond saleTranspower runs $30 million over budget on North Island upgradeTrustPower pushes margins, sheds customers for 16% earnings riseTrustPowerTrustPower first-half profit rises 15% on increased output, higher pricesDaily ShareChat: TrustPowerDaily ShareChat: TrustPowerTrustPower mulls $100m retail bond offer
NZ dollar faces more downside as improving US economy spurs greenback supporters
NZ Sugar Company boosts profits on higher exports and lower costs from Chelsea factory
Greymouth Petroleum shucks off disaffected shareholder
Lance Wiggs's Punakaiki Fund mulls $50 million IPO to invest in high-growth companies
Ecoya ekes out small annual profit, EBITDA up 26%
Snakk raises $6.5M in over-subscribed issue
NZ trade surplus misses expectations
SFO charges seven people over mortgage fraud
While you were sleeping Cautious calm returns
NZ dollar falls to 8-month low
RSS feeds »
Don't know the stock code? Search by keyword:
Vodafone NZ's general counsel Kreider wins bid to keep $541,000 a year job
Rakon plunges deeper into the red on writedowns; shares tumble 8 percent
NZ dollar declines after Bernanke says Fed may taper QE on signs of sustained improvement
Renaissance posts first-half loss on shrinking margins from Apple products, impairment
Capital gains from property targeted in government's plan to fast-track consents
More market prices »
© Copyright 2013 Investment Research Group Ltd. All Rights Reserved.