Wednesday 31st August 2016 |
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Spark New Zealand is to raise $125 million in 10-year bonds, paying investors an interest rate of 3.94 percent.
The Auckland-based telecommunications company is paying 1.55 percent above the ten-year swap rate, the latest in a string of companies looking to refinance debt at a time when interest rates in New Zealand are at a record low.
The bonds will be issued on Sept. 7 2016 and mature on Sept. 7 2026.
ANZ and Westpac were joint lead managers.
Shares in Spark were unchanged at $3.81 and have risen by 16.1 percent since the start of the year.
BusinessDesk.co.nz
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