Generator and retailer Trustpower is considering a $75 million retail bond offer, with up to $25m in oversubscriptions.
The proceeds of the seven-year senior bonds will be used to repay debt and for general corporate purposes.
Interest will be paid quarterly, at a rate fixed before the offer opens, following a bookbuild process to ascertain the level of interest and determine the pricing.
The bonds will be unsecured, unsubordinated debt obligations, ranking with existing bank debt and senior bonds.
ANZ National Bank and Forsyth Barr have been appointed joint lead managers. The offer is expected to open in September 20, once a prospectus has been registered.
The company raised $125m through a seven-year and five-year bond issue late last year.
Shares in Trustpower were unchanged at $7.28.
