Genesis Energy to raise up to $100 mln in six-year bonds

Tue, 08 Mar 2016

By Paul McBeth March 8 (BusinessDesk) - Genesis Energy is looking to raise up to $100 million in six-year bonds at half the cost it's been paying on a note that matures next week. The Auckland-based electricity generator-retailer will sell $75 million of debt to institutional and retail investors, with subscriptions of up to $25 million, it said in a statement. The indicative margin is to set the interest rate 1.45-to-1.6 percent above the swap rate, which is currently at 2.8 percent, implying a coupon of between 3.25 percent and 3.4 per...

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