Mercury launches capital bond offer

Mon, 24 Jun 2024

Mercury NZ is offering up to $300 million of unsecured, subordinated capital bonds to institutional investors and New Zealand retail investors.The offer opens today June 27, with the Capital Bonds expected to be issued on July 11. It can accept an additional $50m in over-subscriptions.The joint lead managers are BNZ, Craigs Investment Partners and Forsyth Barr.The indicative margin range for the Capital Bonds to the first reset date on July 11, 2029, is 2.00% to 2.15% per annum, subject to a minimum interest rate of 6.15% per annum.An announcem...

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