The bonds will be direct, unsecured, unsubordinated debt obligations of Genesis Energy and are expected to be issued in two tranches, one maturing on 15 March 2014 and the other on 15 March 2016. Standard & Poor’s have assigned an investment grade rating of BBB+ to the bonds.
The bonds are expected to offer a competitive rate of return, with the minimum coupon and margin for each tranche to be set on or about 1 December 2008. The final interest rates will be set on 23 December 2008.
The offer opens on December 3 and close on December 19.
ABN AMRO has been appointed Lead Manager for the Offer. The co-managers to the offer are ABN AMRO Craigs, ANZ National Bank, First New Zealand Capital and Forsyth Barr.
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