WEL Networks seeks up to $150M in listed bond offer to repay bank debt

Fri, 29 Jun 2018

By Paul McBeth June 29 (BusinessDesk) - WEL Networks, the Central North Island lines company and fibre network operator, wants to raise up to $150 million selling five-year bonds that will list on the NZX, which it will use to repay bank debt. The community-owned Hamilton-based company is selling $125 million of five-year unsecured, subordinated fixed-rate bonds with scope to accept a further $25 million of oversubscriptions, it said in documents lodged with the NZX. The rate will be set in a bookbuild on July 9, building in an unspecifie...

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