Mercury eyes $300M capital bond offer to refinance existing notes paying 6.9%

Thu, 06 Jun 2019

By Paul McBeth June 7 (BusinessDesk) - Mercury NZ plans to raise up to $300 million of subordinated capital bonds, which it will use to refinance an equal amount of listed debt currently paying 6.9 percent interest. The electricity generator and retailer said it plans to sell the notes to retail and institutional investors and will release the details next week. It didn't give an indication on the maturity of the debt or an indicative interest rate. The funds will go towards redeeming its existing $300 million of 2044 capital bonds, c...

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