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- Release Date: 27/02/13 14:23
- Summary: GENERAL: MRP: Successful Pricing of New Wholesale Bond Issue
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MRP
27/02/2013 12:23
GENERAL
REL: 1223 HRS Mighty River Power Limited
GENERAL: MRP: Successful Pricing of New Wholesale Bond Issue
Mighty River Power today announced the successful pricing of a new wholesale
bond issue in the domestic market.
The issue consists of $75 million of six year bonds and $25 million of 10
year bonds with fixed coupons of 5.029% and 5.793% respectively. The issue
date of the bonds is 6 March 2012.
Mighty River Power's Chief Financial Officer, William Meek, said these bonds
were part of a refinancing programme and the proceeds would be used for
general corporate purposes.
"The issue was taken up by a broad range of local institutional investors and
we're delighted with the continued support for Mighty River Power from the
domestic debt market. The success of the bond issue will lengthen our debt
maturity profile to more than 5 years following the Company's repayment of
its Retail Bond in May 2013," said Mr Meek.
BNZ was the sole lead arranger for the bond issue.
ENDS
End CA:00233516 For:MRP Type:GENERAL Time:2013-02-27 12:23:30
