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

 

Meridian Energy considering $200M retail bond offer

By Rebecca Howard

June 5 (BusinessDesk) - Meridian Energy is considering offering up to $200 million of seven-year unsecured, unsubordinated fixed rate bonds to institutional and New Zealand retail investors.

The bond offer would be for $150 million with the ability to accept up to $50 million in oversubscriptions and Meridian said it expects to announce full details of the offer next week when the offer is expected to open. It didn't provide any details about what the funds would be used for and didn't immediately respond to a request for comment.

Meridian has appointed ANZ Bank New Zealand and Westpac Banking Corporation (acting through its New Zealand branch) as joint lead managers and Deutsche Craigs and Forsyth Barr as Co-Managers in relation to the bond offer.

Meridian had total borrowings of $1.16 billion as at Dec. 31 versus $1.19 billion a year earlier.

Meridian shares last traded at $3.06 and have lifted 5.5 percent so far this year.

(BusinessDesk)



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

up arrow"Steady": GDP Up 0.6 Percent In March Quarter

“Construction was the main contributor to GDP growth this quarter, rising 3.7 percent, on top of a 2.2 percent increase in the previous quarter,” national accounts senior manager Gary Dunnet said. More>>

ALSO:

Gordon Campbell: On Our Wild West Banking Culture

David Hisco’s nine year stint as CEO of the ANZ bank (while his expense claim eccentricities went by unbothered by board oversight) has been a weird echo of the nine years of social neglect by the previous National government... More>>

ALSO:

Privacy & Regulation Issues: Hopes Facebook Currency Will Speed Pacific Transfers

A Tongan community leader is hopeful Facebook's planned digital currency will help end long wait times for money being transferred between New Zealand and the Pacific Islands. More>>

Oil Exploration: Chevron, Equinor Depart NZ

Chevron and Norwegian oil giant Equinor have opted to abandon their joint exploration efforts off the east coast of the North Island... Chevron said the decision not to proceed with the next five-year stage of their work programmes was based on the firms’ broader portfolio considerations and not “policy or regulatory concerns.” More>>

ALSO: