Power bond tender details
PA Wellington The Electricity Corporation yesterday announced it would hold the first tender in its sevenyear bond issue programme on May 8. Bids for the $lOO million Worth of bonds will close at 12 p.m. that day. Electricorp said the minimum bid accepted would be $500,000. The bonds, which have been rated AA — by Standard and Poors Corporation and AA2 by Moody’s Investor Services, will mature on June 15, 1996. They will have a coupon rate of 10 per cent a year. Tender results will be announced at 4 p.m. on May 9. Electricorp has given bidders a settlement period from May 9-15.
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Press, 27 April 1989, Page 42
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107Power bond tender details Press, 27 April 1989, Page 42
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