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- Release Date: 20/02/14 14:32
- Summary: GENERAL: AKC: Auckland Council considers retail bond issue
- Price Sensitive: No
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AKC
20/02/2014 12:32
GENERAL
REL: 1232 HRS Auckland Council
GENERAL: AKC: Auckland Council considers retail bond issue
20 February 2014
Auckland Council considers retail bond issue
Auckland Council ("Council") is considering an offer of fixed-rate secured
bonds to the public and is seeking preliminary indications of interest.
The bonds are expected to have a term of 10 years and will form part of
Council's overall borrowing programme, which includes refinancing maturing
debt and funding investment in projects across the region that will benefit
all Aucklanders for generations to come.
As part of its planning for the bond issue, Auckland Council has appointed
ANZ as Bookrunner and Joint Lead Manager and BNZ and Westpac as Joint Lead
Managers.
Ratepayers and other retail investors can register their interest with one of
the Joint Lead Managers (details below) or a financial advisor. A copy of the
investment statement for the issue will be sent upon release.
It is expected that full details of the bond issue will be released and the
offer will open on 14 March 2014.
Indications of interest will not involve an obligation or commitment of any
kind. No money is currently being sought and no applications for the bonds
will be accepted or money received unless the subscriber has received a copy
of the investment statement in relation to the bonds.
Joint Lead Managers:
ANZ Bank New Zealand Limited
0800 269 476
Bank of New Zealand
0800 284 017
Westpac Banking Corporation
0800 942 822
Ends
For media assistance, please contact:
Sharne Parsons, Senior media adviser, Auckland Council
Ph. 021 993 644
End CA:00247273 For:AKC Type:GENERAL Time:2014-02-20 12:32:50
