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.
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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