Trustpower has closed its $75 million senior bond offer fully subscribed, and has decided not to accept any oversubscriptions.The generator and energy retailer, which had earlier indicated it may accept up to $25m in oversubscriptions, will use the procee
Trustpower has closed its $75 million senior bond offer fully subscribed, and has decided not to accept any oversubscriptions.
The generator and energy retailer, which had earlier indicated it may accept up to $25m in oversubscriptions, will use the proceeds of the seven-year bonds to repay debt and for general corporate purposes.
The company had received applications for the public pool over the $5m threshold, with the remaining $70m from institutions.
The bonds will be allotted on Friday October 22, with trading to begin on the NZDX on October 27.
The bonds will be unsecured, unsubordinated debt obligations, ranking with existing bank debt and senior bonds.
Shares in Trustpower were down 8c at $7.32.
