SOE Transpower to borrow money through the issue of 10-year Australian dollar denominated bonds

National electricity grid operator Transpower says it plans to issue 10-year Australian dollar denominated bonds.

In a brief statement Transpower said it had hired Citibank and BNZ's parent National Australia Bank to manage the issue.

"The transaction will be priced in the near future subject to market conditions," Transpower said. "Net proceeds from the issue of bonds are intended to be used for general corporate purposes, including the capital expenditure requirements of the Transpower Group."

The statement didn't say how much money the state owned enterprise was hoping to raise.