Z Energy accepts $25M of over-subscriptions in latest bond offer

Fri, 24 Aug 2018

By Gavin Evans Aug. 24 (BusinessDesk) - Z Energy, New Zealand’s biggest fuel retailer, accepted $25 million of over-subscriptions in its latest bond offer. The company will next month issue $125 million of the six-year, unsubordinated, secured, fixed-rate bonds. They mature on Sept. 4 2024 and will pay 4 percent interest annually – the bottom of the indicated range. The proceeds will help refinance Z Energy’s $150 million, seven-year retail bond that matured on August 15. It paid 7.25 percent interest. Z Energy has total term debt o...

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