After selling $150 million in its latest issue of seven-year bonds yielding 7.25% and maturing August 15, 2018, Z Energy said on July 19 the degree of unsatisfied demand led it to consider another issue maturing Septmeber 2019.
Z Energy chief executive Mike Bennetts says the decision is a matter of timing and the company may return to the bond market later.
"We have decided we will close the current bond offer in a way that leaves investors with a clear market and leaves our options open for a further offer at some time in the future," Bennetts says.
Z, a joint-venture between listed infrastructure investor Infratil and the government's New Zealand Superannuation Fund, made a first issue last year of $147 million of bonds maturing October 2016.
| « Blue Star bondholders hopping mad at raw deal | OnePath closing troubled mortgage fund » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved