Spark issues 10-year bond, paying 3.94%
The company is paying 1.55 percent above the ten-year swap rate.
Spark New Zealand [NZX: SPK] is to raise $125 million in 10-year bonds, paying investors an interest rate of 3.94 percent.
The Auckland-based telecommunications company is paying 1.55 percent above the ten-year swap rate, the latest in a string of companies looking to refinance debt at a time when interest rates in New Zealand are at a record low.
The bonds will be issued on Sept. 7 2016 and mature on Sept. 7 2026.
ANZ and Westpac were joint lead managers.
Shares in Spark were unchanged at $3.81 and have risen by 16.1 percent since the start of the year.
(BusinessDesk)
Click the hamburger symbol top right of our homepage to access the Rich List 2016 and other sections.
Edwin Mitson
Wed, 31 Aug 2016
Wed, 31 Aug 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Spark issues 10-year bond, paying 3.94%
61260