Transpower New Zealand Limited, rated A1/AA- (Stable/Stable) by Moody's and S&P, has mandated Citi and National Australia Bank for a new 10year A$ MTN. The transaction will be priced in the near future subject to market conditions.
Transpower is a State-Owned Enterprise and 100% owned by the Crown. The Crown does not guarantee the Bonds. Transpower plays two main roles central to the operation and development of New Zealand’s electricity power system. It is the owner and the operator of New Zealand's only national high voltage electricity transmission system (National Grid) and the provider of co-ordination and security functions for the power system.
Net proceeds from the issue of Bonds are intended to be used for general corporate purposes, including the capital expenditure requirements of the Transpower Group.