Transpower to sell up to $300M of bonds maturing in 2015, 2019

Mon, 20 Aug 2012

Aug. 20 (BusinessDesk) - Transpower New Zealand, the state-owned national grid operator, will sell up to $300 million of bonds for working capital and to help fund its network upgrade work. The offer is for $200 million of unsecured, unsubordinated bonds with up to $100 million of over-subscriptions. The debt will be sold in two maturities, a Dec. 3, 2015, issue with a floating interest rate and a Sept. 6, 2019, fixed-rate issue, it said. The 2019 bonds are expected to be quoted on the NZDX market starting on Sept. 7. The debt will have an A...

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