|Issue type||unsubordinated, unsecured fixed rate bonds|
|Rank||Ranks equally with other similar securities|
|Maturity||6 year maturity - 15 December 2022|
|Early redemption||No, but company may at their discretion|
|Coupon (%)||Indicative rate is 1.75%-1.80% over the base rate (6yr swap)|
|Amount||$50 million with ability to accept $50 million in over-subscriptions and $65 million for a priority pool of existing TPW bond holders|
|Opening date||26 September 2016|
|Closing date||21 October 2016|
|Minimum parcel size||$5,000, then multiples of $1,000|
|Listed||Yes, under ticker TPW150|
|Organising Participant and Manager(s)||
Deutsche Craigs Limited, Forsyth Barr Limited and BNZ
Trustpower Limited new bond issue
- Swap or NGZS plus a margin means the actual rate will be set at that margin over the relevant maturity swap rate or Government bond rate, usually a couple of days before the issue date. Click here for swap rates and here for Government bond rates.
- The amount on offer is usually allocated to brokers who then accept subscriptions up to their allocations. The lead manager(s) control the allocation of bonds. There can be a public pool which is not allocated and subscriptions under the public pool are made directly to the issuer or lead manager(s).
- Listing on NZDX unless stated otherwise.