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Chorus offers bonds with minimum 4.1% rate

Chorus has announced an offer of five-year unsecured, unsubordinated fixed-rate bonds.

Monday, 11 April 2016

The offer will be available to institutional investors and New Zealand retail investors.

Up to $300 million is on offer with another $100 million available in oversubscriptions.

The bonds will mature in 2021.

They will pay a rate equal to the swap rate plus a margin of 1.6% to 1.8%, subject to a minimum rate of 4.1%.

The bookbuild is scheduled for Wednesday.

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