Trustpower readies 10-year domestic deal

On 4 February Trustpower (NR) revealed plans for a NZ$75-100 million (US$51.7-69 million) 10-year fixed-rate bond, targeted at New Zealand institutional and retail investors under same-class exemption.
The bonds will have an interest rate that will be fixed for the first five years and resets for a further period of five years. Full details of the offer will be released during the week beginning 11 February, when the offer is expected to open.