Vector offers 7.5% for NZ$150 mln retail bond offer

Energy infrastructure group Vector announced a minimum 7.50%p/a interest rate for its NZ$150 million retail bond offer. The unsecured, unsubordinated, fixed rate bonds will mature on October 15, 2014 and have been assigned a credit rating of BBB+ by Standard & Poor's. Interest will be paid semi-annually, Vector said. The offer will open on May 4, 2009 and will close on May 27, 2009, Vector said. The joint lead managers for the offer will be Goldman Sachs JBWere (NZ), ABN AMRO Craigs, ANZ and BNZ Capital. See our bond rush page for an overview of recent retail bond offers in New Zealand.