Scoop has an Ethical Paywall
NRMA Issues $100 Million Of Bonds In The NZ Market
NRMA Issues $100 Million Of Bonds In The New Zealand Market
Auckland, 23 August; Deutsche Bank AG New
Zealand announced today that they had successfully arranged
an issue of bonds by NRMA (NZ) Holdings Limited. The issue
was for $50 million of a 15 August 2005 maturity with a 7.0%
coupon and $50 million of a 15 August 2008 maturity with a
7.25% coupon. The bonds are guaranteed by NRMA Insurance
Limited and were privately placed to wholesale institutions.
Deutsche Bank AG New Zealand acted as Lead Manager on the
issue with Bank of New Zealand and Westpac Institutional
Bank as Co managers.
The Issuer said that the funds would be used to repay bank debt that had been raised for the purchase of State Insurance earlier this year. The bonds were issued under a $300 million MTN programme that NRMA recently established.
The bonds are rated AA+
(negative outlook) from Standard and Poor’s.
Citizens of the Sea: Sailors To Revolutionise Our Understanding Of Pacific Biodiversity
Netsafe: Making A Splash With Online Safety: Netsafe Launches New Flagship Programme For Kids
NZGBC: Flood Resilience PhD Student Widi Auliagisni Named Future Thinker Of The Year 2024
Business Canterbury: European Free Trade Agreement A Game-changer For Canterbury
Business Canterbury: Urges Council To Cut Costs, Not Ambition For City
Wellington Airport: On Track For Net Zero Emissions By 2028
