Publicly listed hydro and wind power generator Trustpower has announced plans to raise NZ$100 million through an issue of 7 year unsecured and unsubordinated bonds with an 8.4% coupon. The issue is designed to refinance a NZ$50 million bond issue that is set to mature on December 15. The bond offering is notable given uncertainty surrounding capital markets after the announcement of the government guarantee schemes for both retail deposits and bank wholesale debt issues, although Auckland Airport was able to successfully raise NZ$80 million last week through an issue of 8 year bonds. * This article was first published exclusively yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
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