tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, November 26th, 7:04AM

Investments

rss
Latest Headlines

Genesis sets rates

Genesis Energy says there is strong interest for its first issue of unsecured, unsubordinated bonds and its initial target of raising $150 million has been exceeded. It will exercise its right to accept over-subscriptions of up to $75 million.

Wednesday, December 3rd 2008, 7:30PM
It has also announced the rates for its bonds. The minimum coupon for its five-year bond is 7.25% and the issue margin is 1.80%. The rate will be the higher of either 7.25% or 1.80% over the applicable swap rate on issue date.

The minimum coupon for the seven year bond is 7.65% and the margin is 2.10%. The rate will be the higher of 7.65% or 2.10% over the swap rate.

Genesis says $120 million of five-year bonds has been reserved for clients of those participants in the book build process who have received a firm allocation. There will be no public pool for the five year bonds.

Likewise $105 million of the seven-year bonds has been reserved, and there is no public pool.

The final interest rates will be announced December 23.

« Who has got a guarantee?Attempt to stop Hanover meeting fails »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Heartland Bank 0.75  
Heartland Bank 0.75  
Rabobank 0.75  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com