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Mighty River Power selling bonds

Across the Tasman Sea, Bank of New Zealand added NZ$40 million to its recently opened September 2016 line, to take outstandings to NZ$100 million. The increase was priced at the same margin of 135 basis points over swap.S&P flagged a NZ$50 million fixed and floating rate bond issue by Mighty River Power Ltd. (rated BBB+/Stable). The bonds are expected to have an October 2016 maturity but no word has emerged yet on the issue being launched.The New Zealand Debt Management Office sold NZ$175 million and NZ$75 million of government bonds on Thursday. The bonds were oversubscribed 3.3 and 3.5 times and achieved weighted average yields of 5.29 per cent and 5.87 per cent, respectively.

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