Greenstone Energy Considers NZ$100 Million Bond Offering
13 Juli 2010 - 6:56AM
Dow Jones News
Greenstone Energy said Tuesday it may raise NZ$100 million
($71.2 million) through a bond offering to pay down debt.
The company, which is jointly owned by Infratil Ltd. (IFT.NZ)
and the New Zealand Superannuation Fund, said a final decision on a
retail bond issue won't be made until the end of July, when
documentation is expected to be finalized.
Greenstone Chief Executive Mike Bennetts said the issue would be
used to repay bank debt.
On April 1, Greenstone purchased the New Zealand downstream
assets of Royal Dutch Shell PLC (RDSA) for NZ$696.5 million, plus
an adjustment for actual net working capital in excess of NZ$208
million.
-By Lucy Craymer, Dow Jones Newswires; 64-4-471-5990;
lucy.craymer@dowjones.com
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