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FACTBOX-Recent New Zealand debt issues

Published: 01 Apr 2009 22:52:28 PST

April 2 - Following are some of the larger bond issues made by New Zealand corporates in recent months.

* Fonterra - The giant dairy co-operative, New Zealand's largest company, sold NZ$800 million in six-year bonds with a coupon rate of 7.75 percent, more than twice the amount it had been seeking.

* Contact Energy - New Zealand's second-largest listed company capped its issue of 8 percent, five-year bonds at NZ$550 million, after originally seeking NZ$300 million to fund electricity generation projects.

* Bank of New Zealand - A division of National Australia Bank, BNZ increased the size of its initial issue by more than half to NZ$285 million. The 4.775 percent, five-year bonds are covered by a government guarantee scheme.

* New Zealand Post - The state-owned postal operator accepted NZ$50 million of oversubscriptions to its NZ$150 million issue of five-year notes with a 7.50 percent initial coupon rate, after strong demand.

* Auckland City Council - Raised NZ$150 million in five-year bonds with a coupon rate of 6 percent, and said it would consider future issues, after heavy demand saw the offer oversubscribed. ($1=NZ$1.78)


Source: Reuters

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