Meridian Energy details plans to raise as much as $150M of bonds

Mon, 29 Feb 2016

By Tina Morrison March 1 (BusinessDesk) - Meridian Energy, New Zealand's largest hydro electricity generator and wind farm operator, plans to raise as much as $150 million of seven-year bonds, taking advantage of record low interest rates. The Wellington-based company said the bonds would mature in March 2023 and will be offered at an indicative margin of 1.6 percent to 1.75 percent per annum over the comparable benchmark. The 7-year swap rate, a benchmark for corporate borrowing, was recently at a record low 2.8125 percent. The utility p...

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