Bonds
Transpower places $200 million bonds with investors
25th Nov 11, 5:48pm
by
Transpower New Zealand, today announced that it had successfully completed the issue of NZ$200 million of unsecured, unsubordinated bonds to a mix of institutional investors and retail brokers.
The issue comprised two tranches:
- NZ$ 75million of 4 year floating rate notes at an issue margin of 110 basis points over the 3 month bank bill rate; and
- NZ$ 125million of 7 year fixed rate notes with a coupon of 5.14%, an issue margin of 135 basis points over the 7 year swap rate.
Proceeds from the issue of Bonds will be used for general corporate purposes, including the capital expenditure requirements of the Transpower Group.
The Bonds are rated AA- by Standard & Poor's and A1 by Moody's.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.