The rate will be set on 16 December with settlement on 20 December.
BNZ 7 year bond at minimum of 6.10%
BNZ has announced it is offering a senior bond at a minimum rate of 6.10% (or 2.00% over the 5 year swap rate) with a term of 7 years. These bonds have an S&P rating of AA- (stable) and rank equally with term deposits.
Infratil Bonds to pay 8.00%
Infratil Limited (“Infratil”) has registered a Simplified Disclosure Prospectus for an offer of new Infrastructure Bonds with a maturity date of 15 November 2017 which will pay a fixed rate of interest at 8.00%p.a.
The bonds are unsecured, unsubordinated debt securities of Infratil. Unlike each previous series of Infrastructure Bonds, the Infrastructure Bonds offered in this series are not convertible into shares in Infratil in any circumstances.
There are 2 parts to the offer. The first part is a General Offer of up to $25 million of Infrastructure Bonds to all investors in New Zealand (with the option to accept up to $50million oversubscriptions). The second part is an Exchange Offer to existing holders of the Infrastructure Bonds maturing on 15 November 2011.
Got to Infratil infrastructurebonds2017 prospectus for more information.
IAG offer unsecured bonds at 7.5%
Insurance Australia Group Limited (IAG) has announced that it is making an offer of NZ$150 million of unsecured subordinated bonds to the New Zealand public, with the option to accept oversubscriptions. The bonds have an A- rating.
The bonds have a term to maturity of 25 years and will be callable at IAG’s discretion (subject to the prior approval of the Australian Prudential Regulation Authority) on the fifth anniversary of their issue and on each interest payment date thereafter. Interest would be payable quarterly in arrears.
The minimum interest rate will be 7.50% For more information about the offer go to IAGBonds or to download the investment statement go to IAG Investment Statement.
Contact Energy to offer unsecured bonds
Contact Energy Limited is considering making an offer of $150 million of unsecured subordinated capital bonds to the New Zealand public.
TradeMe to list.
TradeMe have circulated the following notice to its customers as a lead up to the public offering of shares in the company.
Be part of New Zealand’s biggest investment event of 2011.
A Kiwi Icon- the most recognised online brand in New Zealand.
The Trade Me website has over 700,000 visitors per day- 2.8 million registered users.
1.1 million people have traded on Trade Me this year alone.
Trade Me’s revenue expected to increase by 12.4% during 2011-12.
Expected dividend yield of 5 to 5.7 percent.
This public offering will be highly publicised- generating great interest and consequently strong demand is expected.
Election Issues – have your say
With the election coming up we thought we would set up a page where people could post their thoughts about what the most important election issues are in their view.
We look forward to hearing from you.
Auckland International Airport likely to issue 6 year bonds
Auckland International Airport has indicated that they are likely to be issuing $100m of new retail bonds maturing in 6 years. The rate is expected to be around 5.5%.
Kiwibank drops 5 year rate to 6.95%
In a break from the other banks Kiwibank has dropped its rate for a 5 year fixed term mortgage from 7.60% to 6.95%. Most other banks are still around 7.60%
What’s the best power deal?
A subscriber just got a letter from Meridian telling him that he could save $15 a month by switching to their Low User Plan because he was using under 9000 units a year. When he did the calculation on last month’s bill he found it would have cost him another $21 a month! He warns people not to be trapped with an offer based on yearly consumption when they bill you on a monthly basis. What is your experience?
We are also keen to hear of people’s experiences with changing power suppliers based on the whatsmynumber.org.nz website. Do the calculated savings stack up in reality?
Air New Zealand to offer fixed rate bonds
Air New Zealand has now announced that it will be making an offer of $150 million unsecured, unsubordinated fixed rate bonds with a maturity date of 15 November 2016. The opening date of the offer is expected to be 5 September 2011. The indicative range for the Interest Rate is 6.90% to 7.20% per annum.
Exchange Rates
NZD Exchange Rates