New Zealand telco Spark has issued NZ$100m (US$67.4m) of fixed-rate bonds.
New Zealand telco Spark has priced NZ$100m (US$67.4m) of fixed-rate bonds.
The margin has been set at 1.15% per annum and the interest rate at 4.4% per annum, the telco said in a statement.
The bonds will mature on 10 March 2023. They are expected to be begin trading on the NZX Debt Market on 11 December 2015.
The entire offering has been reserved for clients of joint lead managers, ANZ and Commonwealth Bank and co-manager Deutsche Craigs alongside NZX participants and other financial intermediaries.
Russell McVeagh provided legal advice to Spark on the offering.
Proceeds will be used for general corporate purposes.
The bonds will rank equally with Spark Finance’s other unsecured and unsubordinated debt.
