Vector raises US$182 mln in bond sale to Americans

Thursday, 23 September 2010, 10:21 am
Article: BusinessDesk

Vector raises US$182 mln in bond sale to Americans

Sept. 23 (BusinessDesk) – Vector Ltd., the gas and electricity distributor, raised US$182 million in a sale of unsecured notes to American investors.

The bonds will mature in 2022, and the company will use the proceeds to repay $250 million worth of debt maturing in April.

Chief executive Simon McKenzie said the pricing reflected the quality of Vector’s assets, earning potential and financial structure without giving details of the price.

The shares were unchanged at $2.24 in trading today.

(BusinessDesk)

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