New Issues

 

Trustpower Limited

Issuer

Trustpower Limited

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
Credit rating NR
Organising Participant and Manager(s)

Deutsche Craigs Limited, Forsyth Barr Limited and BNZ

Information NZX Announcement

Trustpower Limited new bond issue

Notes

  • 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.