Bond issue

Harbour Asset Management director of fixed interest portfolio management Mark Brown

Timely Fonterra sale of six-year bonds draws oversubscriptions

Thu 16 Apr 15

Fonterra sold a total $350 million of the bonds, which pay annual interest of 4.33%, or 75 basis points over the comparable swap rate.

Fonterra CEO Theo Spierings and chairman John Wilson

Investors gobble up Fonterra bonds

Thu 16 Apr 15 1

The prospect of a 75 basis point margin over the current interest swap rate, saw the $250 million bond issue oversubscribed by $100 million.

Mighty River Power raises $100m in wholesale bond issues to repay debt

Wed 27 Feb 13

The bonds are part of a refinancing programme and the proceeds will be used for general corporate purposes.

Heartland plans bond issue

Mon 8 Aug 11 2

Heartland, the combined Marac Finance, CBS Canterbury, and Southern Cross Building Society, is considering launching a bond issue as part of its funding strategy.

TrustPower considers $100m bond issue

Tue 7 Sep 10

TrustPower (NZX: TPW) is considering a bond issue of up to $100m in a bid to repay debt and boost its maturity profile.

In a statement to NZX today, the electricity generator said it intends to offer up to $75m in senior bonds with the option to accept up to $25m in oversubscriptions at TrustPower’s discretion.

The senior bonds will have a term of about seven years, maturing on 15 December 2017.

Fonterra to raise $250m with bond issue

Thu 21 Jan 10

Fonterra will cap its latest New Zealand bond offer at $250 million in contrast to its oversubscribed effort in February last year.

Late yesterday Fonterra confirmed it was considering making an offer of senior unsecured bonds.

The dairy co-operative’s treasury general manager Stephan Deschamps told NBR the details of the offer would be announced in the next few weeks but was firm on its upper limited.

Early last year, Fonterra was seeking to raise $300 million with bonds offering a minimum 7.75% return, but with an ability to accept over subscriptions.

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