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Jenny Ruth
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TrustPower plans bond issue

Wednesday 4th of July 2012

The issue will refinance some existing bonds as well as being used "for general corporate purposes."

Up to $75 million of the offer will be a replacement for the $108.6 million in subordinated bonds maturing on September 15. TrustPower intends to redeem all these bonds for cash and will make the payment on September 14 as the following day is a Saturday.

The rest of the offer will be up to $75 million offered to the general public with an option to accept up to a further $50 million of oversubscriptions at TrustPower's discretion.

TrustPower didn't say what the term of the new bonds will be.

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
6 hours ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
8 hours ago Backstage
FMA outlines its latest expectations for advisers
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