Auckland Council says it's considering launching a 10-year fixed-rate retail bond offer.
In a brief statement the Council doesn't indicate how much money it may seek to raise.
"The bonds are expected to have a term of 10 years and will form part of Council’s overall borrowing programme, which includes refinancing maturing debt and funding investment in projects across the region that will benefit all Aucklanders for generations to come," the Council says.
Auckland Council says it has appointed ANZ as bookrunner and joint lead manager, plus BNZ and Westpac as joint lead managers.
Full details of the bond issue will be released and the offer will open on March 14, the Council says.
Auckland Council completed its first domestic retail bond issue in December 2012, paying annual interest of 4.41% on a $125 million issue of six-year secured, unsubordinated retail bonds.
The Auckland Council "Super City" was established on November 1, 2010 through the amalgamation of eight Auckland councils - the Auckland Regional Council, Auckland City Council, Franklin District, Manukau City Council, North Shore City Council, Papakura District Council, Rodney District Council and Waitakere City Council.
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.