Meridian seeks up to $150 million in retail bond offer

Sun, 05 Mar 2017

By Paul McBeth March 6 (BusinessDesk) - Meridian Energy wants to raise $150 million through a new listed bond to refinance an upcoming debt maturity and cover general business costs. The country's biggest electricity generator is offering up to $100 million of unsecured, unsubordinated fixed rate bonds with oversubscriptions of up to $50 million, Wellington-based Meridian said in a statement. The bonds will mature on March 20, 2024 and have an indicative margin of 1.5 percent to 1.6 percent, implying an annual interest rate of 4.75 perce...

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