Spark sells $240m interest-free phone plans to Challenger to cut debt

Spark will pay down debt with the proceeds of the sale. (Image: Spark)

Mon, 22 Dec 2025

Spark New Zealand will pay down debt after selling its interest-free payment plans to ASX-listed Challenger for around $240 million, it said.The deal includes an ongoing arrangement with Challenger to sell future interest-free payment (IFP) receivables on a regular basis.“Our mobile customers highly value interest-free payment options as a convenient way to purchase the latest devices and manage costs over time,” said Spark chief executive Jolie Hodson.“The value of IFP as a highly effective acquisition and retention tool only...

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