Transpower plans to sell as much as $200M of five-year bonds to bolster finances

Fri, 15 Nov 2013

By Tina Morrison Nov. 15 (BusinessDesk) - Transpower, the state-owned national electricity grid operator, plans to sell as much as $200 million of five-year bonds to bolster its finances. The Wellington-based state-owned enterprise will offer $100 million, with the potential for a further $100 million in oversubscriptions, of unsecured unsubordinated bonds with a 5.14 percent annual interest rate, it said in a statement. “Proceeds from the issue of bonds are intended to be applied for general corporate purposes, including the capital expen...

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