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Air NZ pushes out capital raising again

Paul McBeth
Fri, 13 Aug 2021

The environment's too uncertain for the government to commit to a capital raising before September. (Image: Deposit Photos)
Paul McBeth
Fri, 13 Aug 2021
Air New Zealand won’t raise any new capital until the first three months of next year after the government said the environment’s too uncertain for it to commit to an offer.However, finance minister Grant Robertson offered some relief on the $1.5 billion credit line, removing the 1% step up in the margin that was due to kick in on any money drawn after Oct 29. That keeps the interest rate on the first tranche at 4.2% and 5.7% for the second tranche.The national carrier had planned to raise money through a combination of new debt and...

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