Vector closes NZ$150 mln bond issue at 7.80%

Vector announced on Thursday afternoon that it had closed its NZ$150 million unsecured, unsubordinated senior five year bond issue. The interest rate for the bonds would be 7.80%, Vector said. It initially said the minimum rate for the bonds would be 7.50%. The bonds have a BBB+ credit rating from Standard and Poor's and will be quoted on the NZDX on May 29. Vector said it intended to use the net proceeds raised from the sale of the bonds for general corporate purposes. See all the latest retail bond offers on our corporate bond rush page.