TrustPower Senior Bond Issue
TrustPower Senior Bond Issue
TrustPower makes the following announcements with respect to its 5 year
and 7 year Senior Bond Offer.
5 Year Bonds Maturing 15
December 2014
The offer in respect of the 5 year bonds was limited to $75,000,000 plus
any oversubscriptions accepted by TrustPower. TrustPower has already
received applications through the public pool in excess of $2,975,000
which, together with firm allocations accepted from NZX participant
firms and institutions of $72,025,000, means that a total amount in
excess of $75,000,000 has been applied for in relation to the 5 year
bonds.
TrustPower has decided that no
oversubscriptions will be accepted in
relation to the 5 year bonds and that applications for the 5 year bonds
will close at 5:00pm on Friday, 18 December 2009. As set out in the
prospectus, public pool applications have been accepted on a first come
first served basis
Allotment of the 5 year bonds will occur on
Tuesday, 22 December 2009,
with the bonds expected to commence trading on the NZDX on Wednesday, 23
December 2009.
7 Year Bonds Maturing 15 December 2016
The closing date of the 7 year bonds, which have an interest rate of 8%
per annum payable quarterly, has been extended to 5.00 pm Wednesday, 27
January 2010. There will be no further extensions to the Closing Date.
TrustPower is offering up to $50 million 7 year bonds, with the ability
to accept oversubscriptions as stated in the prospectus. The current
amount of 7 year bonds subscribed for (including firm allocations) is
$49,400,000.
Allotment in relation to applications for the 7 year
bonds received
before 5:00pm on Friday, 18 December 2009 will occur on Tuesday, 22
December 2009, with the bonds expected to commence trading on the NZDX
on Wednesday, 23 December 2009.
Further bonds will be allotted on a
weekly basis during the extended
offer period with a final expected allotment date of Friday, 29 January
2010.
ends