Contact plans to buy back some retail bonds paying 8 percent

Thu, 10 Oct 2013

By Paul McBeth Oct. 11 (BusinessDesk) - Contact Energy, the biggest listed power company, plans to buy back some of its listed retail bonds paying annual interest of 8 percent. The Wellington-based company will buy back some of its $550 million in listed debt using existing cash and available bank facilities, with no minimum or maximum amounts, it said in a statement. The bonds mature on May 15, 2015, and last traded at $103.634 per $100 face value, a yield of 4 percent. Contact has appointed Craigs Investment Partners to bid for the de...

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