Downer considering bond sale
The New Zealand unit of Australian engineering contractor Downer EDI Ltd is considering the sale of a New Zealand dollar three-year senior bond offer.
UBS has been appointed to structure the offer and a joint lead group is expected to be mandated soon, a market source familiar with the situation said.
The offer is expected to be up to $NZ150 million and will mainly target New Zealand retail investors, the source said.
The statement did not give a timeframe or details of the size or the names of the banks involved.
Downer EDI declined to give further details.
The issuer would be Works Finance (NZ) Ltd, a wholly owned subsidiary of Downer EDI, the statement said.
- Reuters
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