Bonds
Transpower places $200 million bonds with investors
25th Nov 11, 5:48pm
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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.
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