Port of Tauranga places $100m in wholesale bonds

Wed, 23 Sep 2020

Port of Tauranga said it had successfully placed $100 million in five-year fixed-rate notes following an institutional bookbuild at an interest rate of 1.02 percent. In an announcement to the NZX today, it said the rate reflects a margin of 0.9 percent per annum above the underlying swap rate. The port said the wholesale bonds will be issued on Sept. 29 this year and mature on Sept. 29, 2025.Outgoing chief executive, Mark Cairns, said he was pleased with the strong support for the transaction.In the port's recent year end results,...

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