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Transpower completes successful domestic bond issue
25 November 2011
Transpower today announced that it had successfully completed the issue of NZ$200 million of unsecured, unsubordinated bonds to a mix of institutional investors and retail brokers.
The issue comprised two tranches:
- NZ$75million of 4 year floating rate notes at an issue margin of 110 basis points over the base rate; and
- NZ$125million of 7 year fixed rate notes with a coupon of 5.14%, an issue margin of 135 basis points over the base rate.
Proceeds from the issue of Bonds will be used for general corporate purposes, including the capital expenditure requirements of the Transpower Group.
The Bonds are rated AA- by Standard & Poor's and A1 by Moody's.
For more information:
Adele Fitzpatrick| Communications Manager | 04 498 2695 | 021 225 6450