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 offer | KIPT bonds oversubscribed » |
Special Offers
No comments yet
Sign In to add your comment
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved