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

 


Mighty River Power Successfully Prices New Wholesale Bond

Mighty River Power Successfully Prices New Wholesale Bond Issue

Mighty River Power today announced the successful pricing of a new wholesale bond issue in the domestic market.

The issue consists of $75 million of six year bonds and $25 million of 10 year bonds with fixed coupons of 5.029% and 5.793% respectively. The issue date of the bonds is 6 March 2012.


Mighty River Power’s Chief Financial Officer, William Meek, said these bonds were part of a refinancing programme and the proceeds would be used for general corporate purposes.


“The issue was taken up by a broad range of local institutional investors and we’re delighted with the continued support for Mighty River Power from the domestic debt market. The success of the bond issue will lengthen our debt maturity profile to more than 5 years following the Company’s repayment of its Retail Bond in May 2013,” said Mr Meek.


BNZ was the sole lead arranger for the bond issue.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Almost 400 Jobs: Shock At Cadbury's Dunedin Factory Closure

Workers at Cadbury in Dunedin are reeling after learning this morning that the iconic Cadbury factory is to close, with the loss of almost 400 jobs... “The company had reported it was doing well and this has come out of the blue,” says Chas. More>>

ALSO:

Transport: Boards Of Inquiry For Auckland Roading Projects

Boards of Inquiry have been appointed to decide on two significant Auckland roading projects in a move which will get a decision by the end of the year, Environment Minister Dr Nick Smith and Conservation Minister Maggie Barry announced today. More>>

ALSO:

Three Months On: Quake Reciovery In Kaikōura And Elsewhere

Three months after the magnitude 7.8 earthquake on 14 November, encouraging recovery progress is being made in affected communities. More>>

ALSO:

Jetstar, Qantas For Govt Transport: Government Still In Talks With Air NZ

The government is still negotiating with national carrier Air New Zealand in a cross-agency air travel contract that will add a number of new airlines to the list of approved flyers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news