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Vector closes NZ$150 mln bond issue at 7.80%

Posted in News May 28, 2009 - 05:11pm, Alex Tarrant

Vector announced on Thursday afternoon that it had closed its NZ$150 million unsecured, unsubordinated senior five year bond issue. The interest rate for the bonds would be 7.80%, Vector said. It initially said the minimum rate for the bonds would be 7.50%.

The bonds have a BBB+ credit rating from Standard and Poor's and will be quoted on the NZDX on May 29.

Vector said it intended to use the net proceeds raised from the sale of the bonds for general corporate purposes.

See all the latest retail bond offers on our corporate bond rush page.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments. Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making these comments.

by Iain Parker | 29 May 09, 4:28am

Bonds are certificates of indebtness

Bonds are certificates of indebtness expanding the nations debt based money supply.
http://www.stuff.co.nz/business/market-data/bonds/2452693/Govt-to-sell-m...