NEW ISSUES & OFFERS
SENIOR BOND OFFER DETAILS
Vector Limited (Vector) has announced an offer of up to $200 million (with the ability to accept up to NZ$50 million in oversubscriptions) of unsecured unsubordinated fixed rate bonds (Bonds).
The Bonds have a 6 year term, maturing 27 May 2025. The Bonds have been assigned a BBB credit rating by Standard & Poor’s, the same as the Issuer credit rating.
The indicative margin range is 165bps to 175bps, and on 10 May this implied a coupon of 3.49% to 3.59% per annum. The actual Interest Rate will not be less than 3.45%.