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Z Energy (NR) (formerly Greenstone Energy) closed its retail bond offering on August 5, pricing NZ$150 million (US$123 million) of retail bonds - NZ$50 millin more than the initial target. The company says the funds will be used to pay down bank debt and provide a more flexible corporate funding structure.
On September 29 Air New Zealand (Baa3, negative outlook) issued its debut transaction in the New Zealand domestic bond market. The NZ$150 million (US$114.9 million) bonds have a coupon of 6.9 per cent and a maturity of November 2016. The offer opened on September 5 and closed on September 23.