Transpower seeks up to $125 mln in new bond ahead of November maturity

Mon, 26 Feb 2018

By Paul McBeth Feb. 26 (BusinessDesk) - State-owned national grid operator Transpower is seeking up to $125 million through the sale of a new bond ahead of a $325 million maturity later this year. The Wellington-based state-owned enterprise is selling up to $75 million of seven-year bonds with oversubscriptions of up to $25 million, with the proceeds set aside for general corporate purposes, it said in a statement. The indicative margin for the bonds is 0.85 percent to 0.95 percent, implying they'll pay annual interest of between 3.8 per...

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