Christchurch City Holdings to sell up to $150 mln of 5-year bonds to pay dividends

Thu, 16 Nov 2017

By Jonathan Underhill Nov. 16 (BusinessDesk) - Christchurch City Holdings Ltd (CCHL), the investment arm of the city council, plans to sell as much as $150 million of five-year bonds, using the money to pay special dividends that will contribute to the city's infrastructure investment. It marks the first 'retail' bond offered by the investment company which oversees eight businesses for the council including Christchurch International Airport, Orion New Zealand, Lyttelton Port Co, and Red Bus. Group assets are about $3.6 billion. The...

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