About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, September 18th, 6:55PM
rss
Latest Headlines

MRP offer 'well supported'

Mighty River Power has confirmed $300 million of unsecured subordinated capital bonds will be issued with an initial interest rate of 6.9% a year.  

Thursday, July 10th 2014, 12:20PM

Chief financial officer William Meek said the company was pleased with the successful completion of one of the largest corporate debt issues of this type in New Zealand.

The capital bond offer was well supported by new investors in Mighty River Power and existing shareholders, he said.

The interest rate for the capital bonds until July 11, 2019, the first reset date, was set at 6.9%.

The offer was oversubscribed by 20% ($50 million) with $280 million allocated to clients of bookbuild participants and $20 million to participants of the public pool.

As the public pool was fully subscribed, there was scaling within the public pool with preference given to Mighty River Power shareholders.

Investors will be sent their allocation information on July 14. 

« KIPT manager announces bond offerKIPT bonds oversubscribed »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Rabobank 2.00  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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