Mercury plans second green bond sale worth up to $250m

Mercury expects its green bonds to issue at "BBB+" credit rating

Mon, 08 Mar 2021

Mercury NZ is planning to sell up to $250 million of five-and-a-half-year green bonds to both institutional and retail shareholders.The electricity generator and retailer expects the offer of $200m unsubordinated fixed-rate bonds on March 15, when it will release full details.It will accept over-subscriptions of up to $50m.Mercury has a "BBB+" credit rating from Standard & Poor's and expects the bonds will have that same rating.The proceeds "are intended to be earmarked to finance and refinance eligible projects in accord...

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