Bonds
SOE Transpower raises A$300 million in 10-year bond issue paying 5.75%
22nd Aug 13, 9:56am
by
National electricity grid operator Transpower says it has borrowed A$300 million (about NZ$343 million) through a 10-year bond issue that'll pay investors interest of 5.75% per annum.
Transpower says the money raised in the Australian dollar denominated senior unsecured note issue has been swapped back into New Zealand dollars. The bonds were sold to Australian and Asian institutional investors.
"Proceeds from the issue will be used for general corporate purposes, including the capital expenditure requirements of the Transpower Group," the State Owned Enterprise said.
The deal will settle on August 28 and is due to mature on August 28, 2023.
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