13 Jan 2004
TrustPower announces it is re-entering the bond market with the offer of a new ten year unsecured bond at 8.5 per cent per annum interest. The company wishes to raise at least $50 million.
Bonds have become an important part of the company's overall funding as it looks to develop new generation capacity and achieve a more efficient capital structure. This increased use of debt funding reflects the maturing nature of the electricity industry and TrustPower's anticipation of solid earnings and investment opportunities going forward.
The bonds on offer are unsecured subordinated bonds with maturity on 15 March 2014. All other terms and conditions are the same as the previous bonds issued.
A copy of the Investment Statement can be obtained from usual broking firms or by phoning 0800 080 276.
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