Greenstone Energy offers 7.35% rate on 6-year bonds

Greenstone Energy, the new owner of Shell's New Zealand retail and distribution assets, has offered a 7.35% interest rate on its inaugural sale of $100 million of bonds.

The bonds, which mature on October 15, 2016, are available only to New Zealand residents, with a minimum investment is $5,000. The offer opens on August 16 and closes on September 15, with capacity for up to $100 million of oversubscriptions.

The Infratil/NZ Super Fund-owned Greenstone took over Shell's, 230 service stations, 95 truckstops, a fuel storage network and distribution infrastructure, a 17% shareholding in the New Zealand Refining and a 25% shareholding in Loyalty New Zealand in April this year.

The funds would be used to repay bank debt that helped finance the transaction.

Businesswire.co.nz

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