Infratil mulls new six-year bond as maturity looms

BUSINESSDESK: Infratil, the Wellington-based investment company, is considering a new six-year bond as $57.4 million in debt matures next month.

The company is looking at an unsecured, unsubordinated fixed interest bond from a fresh offer and rolling over investments in notes that mature in November, it says.

The funds raised will be used to refinance the 2012 infrastructure bonds and for general corporate purposes, it says.

Infratil will not convert the 2012 bond into shares in the company. Rather, it will redeem the notes for cash or roll them over into the new investment.

Disclosure documents are expected to be released this week and Infratil is seeking preliminary interest in the offer, it says.

Shares in Infratil rose 0.5% to $2.18 in trading today. The 2012 notes, which pay annual interest of 7.75%, last traded at $101.354 per $100 face value, indicating a yield of 7.5%.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7044 0.0047 0.67%
AUD 0.9372 0.0013 0.14%
EUR 0.6411 0.0044 0.69%
GBP 0.5367 0.0025 0.47%
HKD 5.4639 0.0369 0.68%
JPY 73.7700 -0.0490 -0.07%

Commods

Commodity Price Change Time
Gold Index 1319.5 -7.040 2016-07-25T00:
Oil Brent 45.1 -0.960 2016-07-25T00:
Oil Nymex 43.1 -1.080 2016-07-25T00:
Silver Index 19.6 -0.040 2016-07-25T00:

Indices

Symbol Open High Last %
NZX 50 7317.3 7325.3 7317.3 -0.09%
NASDAQ 5095.6 5122.3 5097.6 0.10%
DAX 10199.7 10275.4 10198.2 0.49%
DJI 18497.4 18522.5 18493.1 -0.25%
FTSE 6710.1 6744.8 6710.1 0.21%
HKSE 21890.9 22300.5 21993.4 0.62%
NI225 16535.8 16535.8 16620.3 -1.43%
ASX 5530.2 5537.5 5533.6 0.07%