Christchurch holding company eyes new retail bond

(Image: Lyttelton Port Co)

Mon, 20 Mar 2023

Christchurch City Holdings is considering a five-year retail bond to help repay a rump of debt coming due in the coming year. The council investment company housing stakes in Christchurch International Airport, Orion New Zealand, Lyttelton Port Co and Enable Services has hired Westpac and ANZ Bank NZ to act as joint lead managers for the proposed sale. No offer has been made, and the five-year swap rate – on which the offering will likely bed based – was recently at 4.56%.The holding company said proceeds raised from a sal...

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