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Z issues $135m in seven-year bonds

BUSINESSDESK: Z Energy is to issue $135 million of senior, secured seven-year corporate bonds, some $35 million above the $100 million sought, but below the upper limit for acceptances of $150 million.

The issue, which will occur formally tomorrow, is fixed at 6.5% annually, maturing on November 15, 2019.

The entire issue was filled by participants in a bookbuild, with no bonds to be offered in a public pool.

The issue takes total Z Energy bonds listed on the NZDX to $432 million.