Infratil has registered a prospectus for an offer of unsecured unsubordinated infrastructure bonds with the aim of refinancing its bonds falling due next May.
The managers of the offer are Forsyth Barr, ANZ National Bank, First NZ Capital and Westpac Institutional Bank.
The offer will be in two parts. Under the first part, the general offer, Infratil is offering up to $50 million of infrastructure bonds to all investors in New Zealand (with the option to accept up to $25 million oversubscriptions at Infratil's discretion).
Under the second part, the exchange offer, Infratil is offering holders of the 2011 bonds the opportunity to exchange all or some of their 2011 Bonds for the new infrastructure bonds.
At least $50 million of the infrastructure bonds offered under the general offer is subject to firm allocations to the managers.
There will be a public pool with applications processed on a first come first served basis until Infratil chooses to close the issue or the issue is filled.
Infratil is encouraging investors to submit applications forms as soon as possible.