Transpower's $200 million bond offer

The owner and operator of the national power grid, Transpower New Zealand, is planning to set an offer of up to $200 million of unsubordinated, unsecured bonds.

This announcement comes after Mark Verbiest, chairman of Transpower NZ, said yesterday the state-owned enterprise must raise $3 billion of debt which will span over the next five years, some of which would have to be sourced from the domestic market.

Bonds are being offered with terms of maturity of seven years (fixed rate notes) and four years (floating rate notes) at the company’s discretion.

Transpower expects bonds to be assigned a credit rating of AA- by Standard & Poor’s and A1 by Moody’s.

Further announcements on interest rates and issue margins are expected to be made on November 25.


1 · 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

1 Comment & Question

Commenter icon key: Subscriber Verified

More Government debt - under National??

Reply
Share
  • 0
  • 0

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7058 0.0043 0.61%
AUD 0.9474 0.0065 0.69%
EUR 0.6319 0.0060 0.96%
GBP 0.5505 0.0077 1.42%
HKD 5.5000 0.0354 0.65%
JPY 78.4860 0.0980 0.13%

Commods

Commodity Price Change Time
Gold Index 1256.4 -2.470 2017-05-25T00:
Oil Brent 51.8 -2.520 2017-05-25T00:
Oil Nymex 48.9 -2.480 2017-05-25T00:
Silver Index 17.2 0.070 2017-05-25T00:

Indices

Symbol Open High Last %
NZX 50 7434.5 7441.6 7434.5 0.10%
NASDAQ 6207.0 6207.2 6205.3 -0.08%
DAX 12604.4 12611.5 12621.7 -0.36%
DJI 21070.2 21088.8 21083.0 -0.11%
FTSE 7517.7 7552.4 7517.7 0.37%
HKSE 25671.0 25724.4 25630.8 0.03%
NI225 19798.5 19801.6 19813.1 -0.64%
ASX 5789.6 5789.6 5789.6 -0.65%