Spark joins firms tapping debt market, to sell up to $150 mln of seven-year bonds

Fri, 20 Nov 2015

By Sophie Boot Nov. 20 (BusinessDesk) - Spark New Zealand, the country's biggest telecommunications company, will raise as much as $150 million through a retail bond offer, joining a growing number of companies taking advantage of low interest rates to raise debt funding. The Auckland-based company's Spark Finance subsidiary will offer $100 million of unsecured, unsubordinated seven-year bonds to institutional and retail investors, with oversubscriptions of up to $50 million. The bonds mature on March 10, 2023, and are expected to pay ann...

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