Z Energy seeks up to $150 million bond offer to repay debt, general purposes

Thu, 05 Jul 2012

By Hannah Lynch July 5 (BusinessDesk) - Z Energy, the locally-owned downstream transport fuels supplier, wants to raise as much as $150 million through a retail bond issue to repay debt and general expenses. The company will open the offer on July 18 for $100 million seven-year bonds with the ability to accept oversubscriptions of up to $50 million, and will close on Aug. 10. The sale comes after two successful offers where Z Energy raised almost $300 million. The fuel retailer is yet to announce the bonds interest rate. "The net proceeds o...

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