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

 

Statistics: Business Research And Development Up 29 Percent

Computer services and machinery manufacturing firms led the way in an almost 30 percent lift in business spending on research and development (R&D) in 2016, Stats NZ said today. Businesses spent $1.6 billion on R&D in 2016, up $356 million (29 percent) from 2014. More>>

ALSO:

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news