Auckland Council raising $200 mln in bond offer at higher rate than last issue

Thu, 21 Jul 2016

By Sophie Boot July 21 (BusinessDesk) - Auckland Council will raise up to $200 million through a 10-year retail bond issue, at a higher indicative margin than its last offer in March. Last month, the council deferred a planned offer, citing market volatility which followed the UK's referendum vote to exit the European Union. The council wants to raise up to $100 million, with the right to accept up to $100 million in oversubscriptions, and said the bonds would mature in July 2026 and will be offered at an indicative margin of 0.9 perc...

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