Institutional demand backs Transpower's NZ$300 million dual-tranche issue
- Tuesday, 04 September 2012
In an environment of limited domestic corporate supply, Transpower New Zealand (Transpower) (AA-/A1) upsized its senior notes issue, in two tranches, to NZ$300 million (US$240.3 million) from NZ$200 million at launch. The company also priced both tranches at the tight end of indicative margins on September 3, on the back of what the leads describe as strong institutional demand.
