Watercare now liquid, after $3.4b debt raise
Australian banks take the lead in what was New Zealand’s largest corporate debt capital raise, as Watercare ‘decouples’ from its council parent.
Watercare CEO Jamie Sinclair.
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Commonwealth Bank of Australia, Westpac, Bank of New Zealand, and Bank of China will underwrite a $3.4 billion capital raise for Watercare, as the country's largest water provider weans itself off its parent's balance sheet.
The banking syndicate will provide a $2.6b revolving debt facility
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