Infratil Ltd is considering making a new offer of unsecured unsubordinated bonds in 2 separate series in December, the first a 6-year bond and the second a 10-year bond.
Infratil treasurer Fiona Cameron said on Monday the company expected to set the interest rate on the 10-year (2028) bonds for 5 years, then reset the rate in 2023.
The company will seek an aggregate $125 million plus the same sum in oversubscriptions – total $250 million.
Infratil has $111 million of bonds maturing on 15 November, and NZ-resident holders of those bonds will be able to exchange maturing bonds for new ones, subject to availability.
The shorter of the new bonds will mature on 15 December 2024 and the second on 15 December 2028.
Infratil expects to release full details of the offer, and to open it, next week.
Attribution: Company release.