Rates round-up
Transpower puts forward inflation-linked bond, CBS applies for extended retail deposit guarantee, South Canterbury's Gloag hangs up hat, NZ Wool Services pays back loan
Sunday, April 25th 2010, 10:10PM
by Paul McBeth
Transpower puts forward inflation-linked bond
State-owned electricity grid operator Transpower is launching the first corporate CPI-indexed bond in New Zealand.
Next month, the state-owned enterprise will look to raise at least $75 million, offering a coupon of 4.115%
The issue date is May 17, and the company will accept oversubscriptions.
CBS applies for extended retail deposit guarantee
CBS Canterbury has confirmed it has applied for the government's extended retail deposit guarantee to take it through to the end of next year.
The country's only listed building society joins Fisher & Paykel Finance on the list of companies waiting for approval. Marac, Equitable Mortgages, PGG Wrightson and South Canterbury Finance have been accepted.
CBS is reviewing its banking facilities, and is questioning the status of its standby facility which the building society has never drawn, nor intended to draw on it.
South Canterbury's Gloag hangs up hat, NZ Wool Services pays back loan
South Canterbury Finance's long-serving general manager of funding, Kevin Gloag, has handed in his notice, ending a 29-year career with the company on May 12.
Separately, NZ Wool Services International announced it was rearranging its banking facilities and repaying in full its borrowings from ANZ New Zealand and South Canterbury Finance. As at Dec. 31, the firm owed some $24 million.
Paul is a staff writer for Good Returns based in Wellington.
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