Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

MightyRiverPower raises US$200M in US placement

MightyRiverPower lengthens debt book with U.S. placement

Nov. 3 (BusinessDesk) – State-owned electricity supplier MightyRiverPower has lengthened the average maturity of its debt book to 7.5 years from 4.9 years following a US$200 million private placement with American institutional investors.

A combination of 10-, 12- and 15-year notes has been issued, with settlement of the transaction expected to be in December 2010.

The proceeds of the debt-raising, arranged by the National Australia Bank/Bank of New Zealand, will be used to refinance existing short-term bank debt and allows MRP to tap longer-term funding options than are currently available in New Zealand, the company’s chief executive, Doug Heffernan says..

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fuel Leak: Refinery Prepares To Repair Damaged Pipeline

Refining NZ has confirmed that it is to start repairs on a section of its multi-product fuel pipeline which was shut down following a jet fuel leak last Thursday. More>>uption.htm">More>>

ALSO:

StatsNZ: Economy Grows 0.8% In June Quarter

“Strong export and domestic demand underpinned growth this quarter,” national accounts senior manager Gary Dunnet said. “Demand for exports has resulted in strong production growth in manufacturing and service industries.” More>>

ALSO:

Stats NZ: Annual Net Migration Remains High

Annual net migration was 72,100 in the August 2017 year... Migrant arrivals reached 132,200, a new annual record, and migrant departures were 60,100 in the year ended August 2017. More>>

ALSO:

Expert Reaction: Cassini's Grand Saturn Finale

After a 20 year mission, NASA's spacecraft Cassini will meet its demise this week by plunging into Saturn's atmosphere and burning up. More>>

ALSO:

Jurisdiction: Court Rejects Cathay Unit's Retirement Age Of 55 For Pilots

The Supreme Court has backed two Auckland-based Cathay Pacific pilots who claimed local law meant they couldn't be forced to retire at 55. More>>

ALSO:

Supreme Court: AFFCO Loses Lockout Appeal

The essential question in the appeal was whether those who presented themselves for work at the beginning of the 2015/2016 season were at that time “employees” for the purposes of the lockout provision... This Court has unanimously dismissed the appeal. More>>