July 25, 2012 / 10:56 PM / 5 years ago

NZ's Trustpower plans bond issue

WELLINGTON, July 26 (Reuters) - New Zealand power company TrustPower Ltd said on Thursday that it was planning a bond issue to raise up to NZ$125 million ($99 million).

The company said it would offer up to NZ$75 million of unsecured, subordinated fixed rate bonds with oversubscriptions of up to a further NZ$50 million.

The seven-year bonds would offer an indicative rate of 6.75-7.00 percent.

Forsyth Barr has been appointed arranger and organising participant, and Forsyth Barr, Craigs Investment Partners, and ANZ have been appointed as joint lead managers.

Gyles Beckford

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