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Mercury eyes $300M capital bond offer to refinance existing notes paying 6.9%
By Paul McBeth June 7 (BusinessDesk) - Mercury NZ plans to raise up to $300 million of subordinated capital bonds, which it will use to refinance an equal amount of listed debt currently paying 6.9 percent interest. The electricity generator and retailer said it plans to s...
Services
Govt ready and willing to fill the gap on digital services tax if OECD solution fails
By Paul McBeth June 4 (BusinessDesk) - The government is concerned that a concerted international effort to ensure multinational digital firms pay their fair share of tax will fail, so will decide this year on whether to go it alone as an interim measure. Ministers Grant R...
Services
Summerset plans $290 million investment in two new villages
By Paul McBeth June 4 (BusinessDesk) - Summerset Group has bought land to build two new retirement villages, and expects to invest about $290 million developing the sites. The retirement village operator and developer bought an 11-hectare site in Whangarei and an eight-hec...
Services
WEL doubles full-year profit on strong power, fibre connection growth
By Gavin Evans May 31 (BusinessDesk) - WEL Networks more than doubled its full-year profit as expansion of its fibre business boosted revenue and growth in the Waikato region increased residential connections and commercial volumes. Net income rose to $31.5 million in the y...
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